🔥 Ethereum Falling After Being Overbought: Healthy Correction
Just like many other cryptos, ETH is currently experiencing a lot of bearish price action. However, this will only benefit ETH in the long-run.
In a recent BTC post, I discussed the possibility for a bearish correction for Bitcoin after being severely overbought. I reckon that ETH is on the verge of doing the same.
On the chart I've marked a major area of support between $3300 and $3000 based on recent tops and round numbers. I'm expecting ETH to fall within this area, after which it will reverse strongly ideally. This could mean that we're facing another 1-2 days of bearish price action before any meaningful reversal can occur. Plan accordingly.
Happy trading!
In a recent BTC post, I discussed the possibility for a bearish correction for Bitcoin after being severely overbought. I reckon that ETH is on the verge of doing the same.
On the chart I've marked a major area of support between $3300 and $3000 based on recent tops and round numbers. I'm expecting ETH to fall within this area, after which it will reverse strongly ideally. This could mean that we're facing another 1-2 days of bearish price action before any meaningful reversal can occur. Plan accordingly.
Happy trading!
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: www.fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: www.fierytrading.com
