The whole market is bleeding and so is Ethereum struggling to reverse. The bearish trend line and the $625 resistance level have not been taken out. Until they are not, it makes no sense to go long.
For now, the support at $468 is holding, but if bears manage to break it, the fall to APR low is next target.
We are seeing a lot of negativity on the market, despite some good news from various coins. If you believe in some of these technologies for the long run, then there is no reason not to accumulate in extreme weakness, but If you are a day trader, then you should take some profits out and play the volatility on the downside as well.
For now, the support at $468 is holding, but if bears manage to break it, the fall to APR low is next target.
We are seeing a lot of negativity on the market, despite some good news from various coins. If you believe in some of these technologies for the long run, then there is no reason not to accumulate in extreme weakness, but If you are a day trader, then you should take some profits out and play the volatility on the downside as well.