DrJLT

ETH has completed significant pullback, can go up or down

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
The pump a few days ago has helped ETH break the 50W MA that it'd been under. That said, we have had almost 9 green candles with signs of exhausting momentum. Price has retraced a lot & one may say that the target is reached.

I see two scenarios:

1. Price continue to go up driven by Sunday whale pump (around 12pm UTC). The $550-$600 zone is where 50D, 200D & 0.618 / 0.5 fibo levels are at. That provides a good dump opportunity that will send the price back down possibly to $360 levels.

2. Price corrects from here and seeks support from 50W MA.
Comment: bearish divergence; drop soon
Comment:
Comment: can't believe how bullish the market has been. will it drop or not?



in theory should correct a little, but people are crazy now
saw this yesterday, should have published it as it formed

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Can go up or down is the most accurate analysis , keep it up bro
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