$ETH - Retracement or ATH?

2021年1月9日

Expected ETH to have an easy breakout but Bitcoin's price action has stalled its momentum
Taking a look to find out if ETH will break through to all time high @$1392 or retrace to support around $1290
.
.
.
1) ETH has been in a rising channel since the past 5 days, the momentum in BTC has slowed it down but the channel has remained intact throughout - a good sign.

2) The supports have held, so has the resistance -> Indicating accumulation & ranging; but this happening 'within' the rising channel indicates a continuation of trend.

3) The marked red candle exited the Bollinger band at the lower end - oversold conditions -> which was followed by plump green candles and also a high ATR = ETH has VERY GOOD buying pressure.

All indications point to mauling of the bears, LET'S GO!!


...........................


A break down of price from supports, will take it to historic (Feb 2018) supports at $1160 & $980.
Below that we have an extremely strong support at $700-$750

...........................

BUY THE DIPS!

Will update targets once we breakthrough ATH