Ethereum - The Correction Time and New Buy Opportunities

So, what about the 2nd market of the Crypto World?

Like Bitcoin, this market is in the uptrend, and it has made a good upward movement. The price bounced from the resistance zone at 250.00 level, and we have a strong bearish candle now. This candle confirms that the price bounces from the zone. RSI confirms the price reversal and MACD histogram is going to support the further downward movement. It's time to say that the market starts correcting the previous upward movement.

We need this correction because it will be good for the uptrend and it will provide us new buy opportunities.

But there is a question - where we can get these trading opportunities?

If the market continues the downward movement, the support lines and levels will be the target for this movement.

I would like to buy Ethereum from two of the most interesting support zones.
The 1st support zone is formed by 200.00, 185.00 levels and the uptrend line. If the market provides a confirmed reversal signal from this zone, it will be good for buying. But if the market continues falling, the 2nd support zone will be at 160.00 level and this zone will include SMA100 and SMA200 acting as the strong support lines and the main uptrend line. This zone will be the perfect one for buying if we talk about trading in the medium and long term run. Also, all buy positions should be opened based on confirmed reversal signals, and they must follow the proper money management rules.

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