🔥 Ethereum Holding Up Extremely Well: For How Long?
Over the last week or so, ETH has been trading sideways. During the same period, BTC has been falling. So, comparatively, ETH has strongly outperformed BTC and is arguably a very bullish sign for alt coins.
However, with the FED meeting coming up and BTC falling further and further, we might see ETH fall through the support of the horizontal channel.
Keep an eye on the yellow area. If we fall through the support, expect further selling towards $1400 or potentially even lower. If we reverse, look for the top resistance for a short-term scalp.
However, with the FED meeting coming up and BTC falling further and further, we might see ETH fall through the support of the horizontal channel.
Keep an eye on the yellow area. If we fall through the support, expect further selling towards $1400 or potentially even lower. If we reverse, look for the top resistance for a short-term scalp.
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Wait for the hourly candle to close.