Hello, Traders.
I'd like to provide a quick update on Ethereum (ETH) in a 2-day timeframe.
As we're well aware, the cryptocurrency market often takes cues from Bitcoin (BTC). Recently, when BTC experienced a sharp drop from
29K
to
25K
(a -13% decrease), Ethereum (ETH) and other major altcoins followed suit. ETH, for instance, went from $1808 to $1540 in a single day, marking a -14% decline. While ETH hasn't yet retraced to the $1800 range, it has found some stability around the $1600 mark.
Now, if we take a step back and examine ETH on a longer 2-day chart, we can see that ETH is currently trading between support and resistance trendlines. According to this chart, for the pattern to be complete, ETH may need to reach the support zone. If this occurs, I anticipate ETH could potentially reach the $1300 range, which might be its bottom point.
That's the latest update from us. Please feel free to share your thoughts in the comments.
Wishing you favorable trading hours ahead.
Best regards,
Team Dexter
I'd like to provide a quick update on Ethereum (ETH) in a 2-day timeframe.
As we're well aware, the cryptocurrency market often takes cues from Bitcoin (BTC). Recently, when BTC experienced a sharp drop from
29K
to
25K
(a -13% decrease), Ethereum (ETH) and other major altcoins followed suit. ETH, for instance, went from $1808 to $1540 in a single day, marking a -14% decline. While ETH hasn't yet retraced to the $1800 range, it has found some stability around the $1600 mark. Now, if we take a step back and examine ETH on a longer 2-day chart, we can see that ETH is currently trading between support and resistance trendlines. According to this chart, for the pattern to be complete, ETH may need to reach the support zone. If this occurs, I anticipate ETH could potentially reach the $1300 range, which might be its bottom point.
That's the latest update from us. Please feel free to share your thoughts in the comments.
Wishing you favorable trading hours ahead.
Best regards,
Team Dexter
