It looks like we got our bearish retracement from Ethereum as expected. Now the question is how steep will it retrace. We seem to be getting some bullish rejection from the level it's currently testing for the time being.
But, if we don't notice a strong bullish candle closure off of this level, we could possibly see another drop to around 2,800 before gaining some buying pressure. We'll have to wait and see which level is more significant. The safe play in my subjective opinion, is the lower level, but we could possibly get our bullish push from the current zone as well. We shall wait and see.
But, if we don't notice a strong bullish candle closure off of this level, we could possibly see another drop to around 2,800 before gaining some buying pressure. We'll have to wait and see which level is more significant. The safe play in my subjective opinion, is the lower level, but we could possibly get our bullish push from the current zone as well. We shall wait and see.
