Ethereum Continues to Find Sellers:
Enter your emailIn the short term, it seems very unlikely that Ethereum will give you the possibility of big gains.Ethereum sees the $1250 level as resistance, and it’s not a huge surprise to see that we are not able to retest that area. The $900 level underneath could be the target, and if we were to break down below there, I think we’ve got a situation where Ethereum will fall much further. Breaking below that level is my base case scenario, but when we get there is a completely open question.
If we would do break down below the $900 level, it’s likely that the market could go down to the $500 level, which is an area where we had seen a little bit of back and forth previously. Because of this, that is my target, and I will be waiting until we get down there in order to start buying. The $500 level begins a massive support level down to the $400 level and would represent a complete “round-trip” of the entire bullish move.
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