Ethereum is the flagman of altcoins and here is what Raul Paul, CEO of Real Vision says about it:
“It is like a teenager, but let’s face it – Ethereum’s down like 40% this year and the Nasdaq’s down 25%. It’s not terrible, and Ethereum for example hasn’t made a new low versus last year while we’ve thrown in inflation and rate hikes and wars and everything at it.
I don’t think we’ve gotten the massive blow-off top. We’ve got a sort of blow-off top, and I think we’re in this very wide sloppy range.”
Personally I believe that ETH has a potential to become number #1 crypto in a couple of years, since it has strong fundamentals.
Right now we could take local long if we see good volume on the supporting trendline and then price will approach and accumulate near upper trendline. Otherwise it will be good short opportunity.
⭐️ BTC locally bullish ⭐️ Market is in panic ⭐️ We are in the end of formation ⭐️ Accumulation 6 days ⭐️ 4th touch ⭐️ Had a trap for bears ⭐️ Volume at bottom ⭐️ Over VWAP
Will enter when price squeezes to the level on lower timeframes, the base will form and the strip will get faster.
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P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones