Ethereum reached the previous high at 400.00 level. Based on the daily chart we can see that the market is going to reverse. The price diverges with MACD histogram and it's a signal of trend reversal. The market bounces from 400.00 resistance level. RSI and a bearish candle confirm price reversal. MACD histogram confirms downward movement. DMI shows the uptrend, but falling ADX line gives a signal that bulls are not so strong now. Probably we'll see further downward movement 320.00-300.00 levels. This zone will be good for buying based on confirmed reversal signals. If the market drops below 300.00 support level, the next reversal zone will be at 280.00 level and SMA100. All reversal signals will have to be confirmed by RSI, MACD reversals and candlestick patterns.
Thanks for sharing. I think everything (cryptocurrency) is being overbought at the moment. We could see some correction early this month. I agree with your idea. A 10-15% momentary price reduction is logical. Good entry chance though!