In my previous ETH analysis I looked at a potential short term rebound happening soon.
As of now, it appears that the ~1730 support area held strong and that ETH can potentially start a new bullish push upwards. Currently, it's all dependent on the 1880 support. If that support manages to hold, we can see the start of a prolonged bullish move and the formation of a horizontal channel.
Obviously, ETH's moves are dependent on Bitcoin's price action. In the end, everything follows BTC one way or another. Bitcoin's recent price movement is relatively bullish, so a bullish move from ETH is more likely.
Happy trading!
As of now, it appears that the ~1730 support area held strong and that ETH can potentially start a new bullish push upwards. Currently, it's all dependent on the 1880 support. If that support manages to hold, we can see the start of a prolonged bullish move and the formation of a horizontal channel.
Obviously, ETH's moves are dependent on Bitcoin's price action. In the end, everything follows BTC one way or another. Bitcoin's recent price movement is relatively bullish, so a bullish move from ETH is more likely.
Happy trading!
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