ETHUSD Has Very Strong Support Areas Formed
The key main support levels that are coming up are:
- $245 to $247 (minor support based on recent price action and also where the nearest ascending parallel channel is at)
- $241 (major support based on 50$ Fib Retracement Level)
- $237 (minor support based on past price action)
At the most what can happen is a scam wick where they dump heavily imediately, which is actually now allowed at exchanges but has been done to liquidate longers so less longers on the way up. In this instance the price will bounce back quickly. In this case, the lowest price point i think the scam wick can get to would be around $224-$227
Keep your margins healthy and only low leverage. Good luck.
Only trade what you can afford to lose. Nothing is 100% ever!
- $245 to $247 (minor support based on recent price action and also where the nearest ascending parallel channel is at)
- $241 (major support based on 50$ Fib Retracement Level)
- $237 (minor support based on past price action)
At the most what can happen is a scam wick where they dump heavily imediately, which is actually now allowed at exchanges but has been done to liquidate longers so less longers on the way up. In this instance the price will bounce back quickly. In this case, the lowest price point i think the scam wick can get to would be around $224-$227
Keep your margins healthy and only low leverage. Good luck.
Only trade what you can afford to lose. Nothing is 100% ever!
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