Ethereum Trying To Hold Its Strength
Since we have seen a breakdown of the local trendline ETH should correct to the larger bullish trendline labeled on the chart where it will likely find more strength to keep going. If ETH wants to really go on a run it needs to have this correction to keep the momentum going. A lot of future price movement will have to do with how well BTC is able to hold its strength going forward around 50k.
With a very strong month in August, it does raise the risk that there will be downside in September which is in line with my correction prediction going forward. I would keep a close eye on BTC and how it is going to hold under 50k and if it's going to break it. If a successful break of 50k occurs, ETH will be ready to keep shooting to the stars.
Local Support: $3050 , $3000
Upside Target would be All-Time High at $4000+
Here is the Bullish Trendline ETH needs to hold
With a very strong month in August, it does raise the risk that there will be downside in September which is in line with my correction prediction going forward. I would keep a close eye on BTC and how it is going to hold under 50k and if it's going to break it. If a successful break of 50k occurs, ETH will be ready to keep shooting to the stars.
Local Support: $3050 , $3000
Upside Target would be All-Time High at $4000+
Here is the Bullish Trendline ETH needs to hold