Chart shows common supports and resistances based on the Fibonacci and price action. The evaluation for ETH is bullish. The coin itself has a very healthy price action of higher lows and higher highs, however a decent retracement to the previous higher low would test buyer interest and keep the long term investment confidence for new investors to come into the market. The recommended method for trading/investing in this coin is to take each and over indication of oversold in the Relative Strength Index as a buying opportunity in respectable fib levels. Anything in between the FIB is considered part of that fib's volatility, this way your DCA strategy would be equally spaced out in maximizing your profits over the long run.
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New Update:
Due to the positive news of FED today, the move to the upside is more likely now than approaching the 3,000$ range however the resistance near the 5,000$ is still a major resistance until proven otherwise. Happy Longs Everyone!
Due to the positive news of FED today, the move to the upside is more likely now than approaching the 3,000$ range however the resistance near the 5,000$ is still a major resistance until proven otherwise. Happy Longs Everyone!