ETH/USD - Green candles soon?
Hello everyone, I'm back with a new idea. Before I start, I just want you to know that I'm a beginner and this idea might not play out as I predicted/expected it to. Always do your own research before investing any money in cryptocurrencies :)
As we can see from the daily chart , ETH price has been in a descending channel for about 3months now. Today (13th August) we saw a significant price drop that could lead us somewhere close to $250 range. I expect it to bounce off from there and I am ready to buy some ETH if the price drops below $265. RSI is already highly in the oversold level and we might see some small bullish movements in the short-term before the $250 range.
Let's take a look on Bitcoin ETF decision. It's well-known that ETF decision will have a significant impact on Bitcoin's price. Other cryptocurrencies (ETH included) will most likely follow BTC's price. If the ETF gets declined or postponed, we might see another price drop shortly after the decision.
Although there is some more space left for ETH to go lower, this is already a very good entry point for the long term. If the price falls lower you can still Dollar cost average it on the way down. Good luck & always DYOR. ;)
If you agree with me, please leave a rate up and/or feel free to comment below what you think about this :)
As we can see from the daily chart , ETH price has been in a descending channel for about 3months now. Today (13th August) we saw a significant price drop that could lead us somewhere close to $250 range. I expect it to bounce off from there and I am ready to buy some ETH if the price drops below $265. RSI is already highly in the oversold level and we might see some small bullish movements in the short-term before the $250 range.
Let's take a look on Bitcoin ETF decision. It's well-known that ETF decision will have a significant impact on Bitcoin's price. Other cryptocurrencies (ETH included) will most likely follow BTC's price. If the ETF gets declined or postponed, we might see another price drop shortly after the decision.
Although there is some more space left for ETH to go lower, this is already a very good entry point for the long term. If the price falls lower you can still Dollar cost average it on the way down. Good luck & always DYOR. ;)
If you agree with me, please leave a rate up and/or feel free to comment below what you think about this :)
Transaction en cours
Price touched the support line yesterday, shortly after I posted this. Now we might expect a bounce up to about 380-400 level.Transaction en cours
Trade fermée manuellement
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.