EthereumShort
Ethereum's Drop: Is $2500 Still in Sight?
I mentioned in the previous video that we might see a drop in the price of Ethereum as the ETH/BTC pair breaks lower due to liquidity being drawn to Bitcoin.
We have observed a relief rally towards the 20 EMA, following the breakdown of the ETH/BTC pair, while still respecting the 20 EMA.
Based on the previous cycle in 2019, we saw something similar as ETH/BTC broke down the support. ETH/USD retraced towards the 20EMA before dropping about 30%, so we could have something similar play out.
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We have observed a relief rally towards the 20 EMA, following the breakdown of the ETH/BTC pair, while still respecting the 20 EMA.
Based on the previous cycle in 2019, we saw something similar as ETH/BTC broke down the support. ETH/USD retraced towards the 20EMA before dropping about 30%, so we could have something similar play out.
"Thank you for your support. Please leave a comment and follow."
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Publications connexes
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.