Will ETH crash again?
Updated
The green lines show the main upward channel of ETH.
ETH went a little too high yesterday and left the channel to the top where it tested multiple times 580 but hit very strong resistance.
Therefore it had to retract back in the channel where we are now checking the bottom.
So the are two possible outcomes:
1. We can hold the bottom of the channel wich sends the price up again to recheck 580 resistance in a couple of days.
2. We don't hold the bottom of the channel and might fall back to 400 again.
ETH went a little too high yesterday and left the channel to the top where it tested multiple times 580 but hit very strong resistance.
Therefore it had to retract back in the channel where we are now checking the bottom.
So the are two possible outcomes:
1. We can hold the bottom of the channel wich sends the price up again to recheck 580 resistance in a couple of days.
2. We don't hold the bottom of the channel and might fall back to 400 again.
Trade active
we checked the support line once and bounced against the correction cahnnel. I take that as a good sign. looks like option 1
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