Ether (ETH) oversold heavily - bounce coming soon?
تم تحديثه
ETH is oversold on the daily, on the 4 hour, on the 2 hour...
The next possible point for a substantial bounce is around the 470$ region (first orange line).
As you can see on the daily chart, this point is identical with a 100% retrace for the rally that started on December 11th.
So under normal circumstances, I would expect to see a strong bounce here.
However, if BTC continues to tank further, so could ETH.
The next possible supports would be around the 400$ mark (second orange line), and then the 300$ mark (third orange line). This targets are all derived from relevant points of last year.
If we break even the 300$ mark, well, god help us...lol.
If you found this post helpful, please hit the Like button - that's an easy way to thank me for my time.
Thanks!
The next possible point for a substantial bounce is around the 470$ region (first orange line).
As you can see on the daily chart, this point is identical with a 100% retrace for the rally that started on December 11th.
So under normal circumstances, I would expect to see a strong bounce here.
However, if BTC continues to tank further, so could ETH.
The next possible supports would be around the 400$ mark (second orange line), and then the 300$ mark (third orange line). This targets are all derived from relevant points of last year.
If we break even the 300$ mark, well, god help us...lol.
If you found this post helpful, please hit the Like button - that's an easy way to thank me for my time.
Thanks!
ملاحظة
I forgot to add: contrary to BTC and LTC, ETH is now even below the low of Feb 6th!ملاحظة
We have reached possible bounce point 1, now it's getting interesting.Not the slightest trace of a bounce yet.
ملاحظة
So we bounced off of 450$, at least for now.The low of the lowest candle is exactly at 450.00$, at least on the Coinbase chart.
I redraw the Fibonacci levels, this time I took the lows of early August as the lowest point. It appears that we are now hovering around the 78.6% retrace from the rally beginning early August - which is at the same time the 100% retrace from the rally starting in December.
Isn't that amazing :)
ملاحظة
The chart with the new Fib-levels:
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.