Corrections are necessary and healthy in order to have a healthy market and in order to achieve the next leg higher. ETHUSD was red hot and needed to cool down so this is a good thing long-term.
ETH should be headed back towards $4,400 by the end of the summer if not sooner.
The 150-DMA held as support when it broke past the trendline briefly. There was no bearish candle that closed beneath the trend line so I would consider it still intact.
China's comments caused some headline shock but I do not believe they will materialize anytime soon. ETHUSD is still the digital oil/fuel.
ETH should be headed back towards $4,400 by the end of the summer if not sooner.
The 150-DMA held as support when it broke past the trendline briefly. There was no bearish candle that closed beneath the trend line so I would consider it still intact.
China's comments caused some headline shock but I do not believe they will materialize anytime soon. ETHUSD is still the digital oil/fuel.
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Trend line has been broken
