-Taking the well-deserved vacation (cool-down), ETH is back on track again!
-If the bullish channel won't be broken, we can expect a fast recovery to the old levels of $4,100.
-Economic uncertainty is slowly fading away, we are still in a volatile market though.
-Fear & Greed Index stays low @ 27, but the chart shows that people slowly gain the confidence back again with crypto.
Our Opinion:
In our opinion, crypto investors are more lenient in active crypto investments when the economy is stable. With the current possible inflation, debt crisis, post COVID-19 economic effects, people are scared about tomorrow. However, with the rise of fear and drop in price, there is always a rise in opportunists who wants to take the advantage of the low prices. So briefly, the market's current psychology looks mixed as the ETH tries to decide whether to obey the scared investors or the brave opportunists. In a conclusion, we can say that ETH is one of the major coins that is far away from those stonks or newly created "to the moon" coins. So obviously expecting a tremendous drop from ETH would be a delusional act. We see ETH recovering slowly in the upcoming weeks.
-If the bullish channel won't be broken, we can expect a fast recovery to the old levels of $4,100.
-Economic uncertainty is slowly fading away, we are still in a volatile market though.
-Fear & Greed Index stays low @ 27, but the chart shows that people slowly gain the confidence back again with crypto.
Our Opinion:
In our opinion, crypto investors are more lenient in active crypto investments when the economy is stable. With the current possible inflation, debt crisis, post COVID-19 economic effects, people are scared about tomorrow. However, with the rise of fear and drop in price, there is always a rise in opportunists who wants to take the advantage of the low prices. So briefly, the market's current psychology looks mixed as the ETH tries to decide whether to obey the scared investors or the brave opportunists. In a conclusion, we can say that ETH is one of the major coins that is far away from those stonks or newly created "to the moon" coins. So obviously expecting a tremendous drop from ETH would be a delusional act. We see ETH recovering slowly in the upcoming weeks.
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