Hello Crypto Friends, we've been keeping an eye on ETHUSD over the last few weeks to see if we can finally break out of the downtrend channel marked by the thick red line, but as of yet no magic has been happening by the bulls. Million Dollar Question: Where is the Volume??
Where are we heading?:
We've had support at previous levels around the $800 price range which the bears appear to have broken. Next stop was the fib retracement level at around $775 price range we just hit before I can post this. If ETH can't hold on to this support level, then we have the following next stops if the bears keep control: $725, $665, & $567.
So keep you seat belts on and please hit the like button on top as we keep a close watch on ETH & BTCUSD to see the next move.
Note: We're currently long on ETH.
Cheers!
Where are we heading?:
We've had support at previous levels around the $800 price range which the bears appear to have broken. Next stop was the fib retracement level at around $775 price range we just hit before I can post this. If ETH can't hold on to this support level, then we have the following next stops if the bears keep control: $725, $665, & $567.
So keep you seat belts on and please hit the like button on top as we keep a close watch on ETH & BTCUSD to see the next move.
Note: We're currently long on ETH.
Cheers!
Comment:
Bear Target #1 Reached.