ETHUSDT: Next Reaction Most Important Since December 2018
The next reaction - not necessarily a single move - will be very likely a defining one for Ethereum.
A reaction on the previous pump to the upside would bring us finally into a zone with way less resistance at $133 USD levels.
The old resistance would act as very strong support and make it more likely to get up further.
At this point, we would NOT YET have a higher high! Keep that in mind in case you would like to call this bear's end.
On the downside however, things are not looking good. If we see a reaction to the downside below $100, we will be back in the double-bottom territory at $80 USD, with the last strong support that we got left.
If the downside at $80 USD gets broken, too, we should see even more strong downside moves, panic sells and the final finally capitulation.
However, I wouldn't bet on an upside reaction that we are back in the bull market as we are still lacking the macro-trend's higher highs. But have a better chance to get there due to less resistance.
A reaction on the previous pump to the upside would bring us finally into a zone with way less resistance at $133 USD levels.
The old resistance would act as very strong support and make it more likely to get up further.
At this point, we would NOT YET have a higher high! Keep that in mind in case you would like to call this bear's end.
On the downside however, things are not looking good. If we see a reaction to the downside below $100, we will be back in the double-bottom territory at $80 USD, with the last strong support that we got left.
If the downside at $80 USD gets broken, too, we should see even more strong downside moves, panic sells and the final finally capitulation.
However, I wouldn't bet on an upside reaction that we are back in the bull market as we are still lacking the macro-trend's higher highs. But have a better chance to get there due to less resistance.