WQ927

Ethereum is struggling on the way UP

BINANCE:ETHUSDT   Ethereum / TetherUS
A few days ago, Ethereum started to drop significantly due to Powell's hawkish speech in Jackson Hole. It touched the support line of its 2018 ATH and then started to bounce back. However, there is still some resistance to ETH's flight. "Hope for the best, prepare for the worst", if those resistance lines (blue) are broken due to ETH consolidation, then when it falls back to the support line (blue, resistance change), your strategy will become buy support). However, if it still continues to decline, buy when it hits the uptrend line (green). Then wait for it to fly back to the downtrend line (red). If ETH just ignores the red downtrend line and breaks it easily, then we might see a new ATH for ETH (if the Fed starts lowering rates).
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