Let's not pretend ETHUSD / BTCUSD correlation doesn't exist..but let's also not pretend there aren't differences in the underlying ___, which from my (limited) understanding has evidently led to unfavorable beta in the short term and painful paper loss. Medium term profitable short bets. Who knows.
Support at levels at and below 190 have gobbled bear pressure up to this point. We're delving into mid 2017 price territory, and psychological supports can be meaningful.
I've sketched two possible targets in white where I'll be watching for rejection downward from inside of the rising wedge.
All input is appreciated!
Keep an eye on the green triangle next couple days. Are there enough bulls... I like Monero fundamentals...to me, basic TA seems to point upwards in the near term... that said I'm still thinking we'll see sub 100 before we see September's 140... Interested in others' thoughts.