Etherium broke the 3 month downtrend a few days ago and yesterday just retested this trendline and continued up. Great confirmation for a trade here because of the retest of the 0.618 fib, great demand level from $2800 to $3000, and trendline retest and continuation.
On the contrary, it just reached the resistance level 0.5 fib and big supply from the last 4 months at $3110.
It seems that is recovering and starting to do the same as before this short bear market happened (outperforming Bitcoin) but time, and the BTC/ETH chart, will tell if it will keep going up against Bitcoin or Bitcoin will take the first steps going up as it has done before.
It was a great buying opportunity, we might not see ETH under $3000 ever again.
Trade with your head and be persistent.
On the contrary, it just reached the resistance level 0.5 fib and big supply from the last 4 months at $3110.
It seems that is recovering and starting to do the same as before this short bear market happened (outperforming Bitcoin) but time, and the BTC/ETH chart, will tell if it will keep going up against Bitcoin or Bitcoin will take the first steps going up as it has done before.
It was a great buying opportunity, we might not see ETH under $3000 ever again.
Trade with your head and be persistent.