The market is in a crux. Very important level here for ETH, similar to $40k for BTC (see below idea).
So far the bulls managed to keep price above the key support at $2,800, but the question is if they can maintain it.
Any failure here from buyers to hold price will lead to bears takin over and pushing ETH quickly back towards $2,200.
Bias is neutral considering this price action and the indicators are turning rather bearish, particularly the MACD with a falling histogram. The RSI is flat as is volume.
A break below the key support level will turn MACD bearish which will be quite painful. Lets see what comes next. For now buyers appear interested here.
Like and follow if you liked my idea!
So far the bulls managed to keep price above the key support at $2,800, but the question is if they can maintain it.
Any failure here from buyers to hold price will lead to bears takin over and pushing ETH quickly back towards $2,200.
Bias is neutral considering this price action and the indicators are turning rather bearish, particularly the MACD with a falling histogram. The RSI is flat as is volume.
A break below the key support level will turn MACD bearish which will be quite painful. Lets see what comes next. For now buyers appear interested here.
Like and follow if you liked my idea!
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