Having said that, price is currently in search for support. BTC seems to be doing better in this regards, however, ETH has not yet found any support and the first good candidate for that is the $2,100 level. If that fails the next level to hold us is just under $2,000. A crash of the price below that level will not be good for ETH as it will invalidate our ascending trend here, indicated by our white trendline.
The daily indicators are also looking a bit and on this drop increased = ... hmm...
It's really up to support now to stop this correction, otherwise, the trend may continue to be in the near term. On 4h the indicators want to have a break from this down trend so we may turn as long as support holds...
Do not buy ETH here. Wait to find support. Nor short, we are too close to support to do that. Patience is key.
With that said, watch alts as if ETH is , they won't do particularly well either, except Doge, that thing is just... on Mars with Elon Musk drinking cocktails. 🤣
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What do you think, how low could ETH realistically drop?
1520? too radical? I know that the overall environment is still bullish (even if BTC doesn't behave well right now), but we had a permanent run from 1540 to 2550.
Hard to say, I know. I'm only trying to understand how the worst of the worst could look like under the given circumstances.
We need to start the engine again. Lot's of fresh money is required and I'm wondering at which level ETH would be able to convince buyers for a decent takeoff.