Ethereum falls in price even faster after a rapid growth. It seems that the bears have now firmly taken up the bulls. There are no Ethereum buyers at all, and its rate is dropping without rollbacks.
Priority of the day: the sale of ETHUSD with a target of $ 630.
You probably noticed that money from the market goes along with those who want to buy a cryptocurrency. Liquidity of Ethereum decreases. Soon there will come a balance of forces between buyers and sellers because no one will be selling.
Projected scenarios:
1. Sell ETHUSD after the rollback up, from the level of $ 660.
2. Given the strength of the downwards momentum of Ethereum, sharp acceleration of the fall to $ 630 is possible. The Fibonacci level of 61.8% is located here, where everyone expects to see a support zone for ETHUSD.
An alternative scenario:
Our backup plan is the growth of Ethereum rate from $ 650 to $ 700. But, we recommend today to refrain from buying and to follow the current downtrend.
Priority of the day: the sale of ETHUSD with a target of $ 630.
You probably noticed that money from the market goes along with those who want to buy a cryptocurrency. Liquidity of Ethereum decreases. Soon there will come a balance of forces between buyers and sellers because no one will be selling.
Projected scenarios:
1. Sell ETHUSD after the rollback up, from the level of $ 660.
2. Given the strength of the downwards momentum of Ethereum, sharp acceleration of the fall to $ 630 is possible. The Fibonacci level of 61.8% is located here, where everyone expects to see a support zone for ETHUSD.
An alternative scenario:
Our backup plan is the growth of Ethereum rate from $ 650 to $ 700. But, we recommend today to refrain from buying and to follow the current downtrend.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.