ETH UPDATE! BOUNCE FROM WHICH LEVEL??

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Welcome to this ETH update.

ETH is perfectly rejected from the yellow trendline and continuously going down from there.

ETH might bounce from $1250 level. Here's why?

1) Previous accumulation zone for ETH is $850-$1250 and after the break out we haven't seen a retest yet of $1250 level.
2) Strong support of 0.618 fib level.
3) 50D ma strong support also.

So, there is high chances that we see a good bounce in ETH from $1250 level. If it's unable to hold the $1250 level then we might see more low.

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