Ethereum continues to fall in value. The buyers supported Ethereum rate near the level of $ 580. But, volume analysis shows the absence of large buyers of Ethereum. Therefore, we are expecting today the feast of bears to continue.
Priority of the day: sell ETHUSD for $ 560.
After such a strong fall, ETHUSD should make a correction upward, to $ 650 - $ 625. It is from this zone that it would be interesting to look for an entry point for the sale of ETHUSD.
Projected scenarios:
1. Sell ETHUSD from $ 650 to $ 560.
2. After a strong impulse, naturally, pause or flat occurs for any cryptocurrency. Therefore, lateral movement of the Ethereum rate in the $ 620 - $ 580 zone is possible.
An alternative scenario:
We hope to see Ethereum buyers around $ 580. If there is a large amount to buy, then the priority of trade will change in favour of bulls.
Priority of the day: sell ETHUSD for $ 560.
After such a strong fall, ETHUSD should make a correction upward, to $ 650 - $ 625. It is from this zone that it would be interesting to look for an entry point for the sale of ETHUSD.
Projected scenarios:
1. Sell ETHUSD from $ 650 to $ 560.
2. After a strong impulse, naturally, pause or flat occurs for any cryptocurrency. Therefore, lateral movement of the Ethereum rate in the $ 620 - $ 580 zone is possible.
An alternative scenario:
We hope to see Ethereum buyers around $ 580. If there is a large amount to buy, then the priority of trade will change in favour of bulls.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.