Hello traders,
As you can see on the ETH charts the highlighted areas that were covered on prior analysis are holding pretty well. We had a massive sell-off from the $360 weekly level of resistance which took us exactly to the 193 weekly support.
This weekly support level has a huge importance as it also correlates with the 76.8% on the Fibonacci retracement which I kept out of the charts for the sake of keeping them clean.
Should this level hold, we could see a spike towards 360 once again. Knowing that the BTC dominance is still above 65% we should keep in mind the BTC moves as at the moment it looks like ETH and other alts are still mirroring Bitcoin.
On the daily time frame we are currently moving in-between two major key levels, the 225 daily resistance and 193 weekly support level.
For short term targets we need to wait for a confirmation, a break above the daily resistance the price should head towards 273 resistance. Should we fail to do so, we could see another spike towards 193.
As you can see on the ETH charts the highlighted areas that were covered on prior analysis are holding pretty well. We had a massive sell-off from the $360 weekly level of resistance which took us exactly to the 193 weekly support.
This weekly support level has a huge importance as it also correlates with the 76.8% on the Fibonacci retracement which I kept out of the charts for the sake of keeping them clean.
Should this level hold, we could see a spike towards 360 once again. Knowing that the BTC dominance is still above 65% we should keep in mind the BTC moves as at the moment it looks like ETH and other alts are still mirroring Bitcoin.
On the daily time frame we are currently moving in-between two major key levels, the 225 daily resistance and 193 weekly support level.
For short term targets we need to wait for a confirmation, a break above the daily resistance the price should head towards 273 resistance. Should we fail to do so, we could see another spike towards 193.
