ETHUSD looking great, but is it time for a step down ?
Hi all,
Great moves by ETH in the last few days !
The weekend of May 16-17 was full of action. It started with a solid green candle to $200 on Saturday as buyers were not yet ready to give up their positions after falling below this important psychological level. Then on Sunday, May 16, the Ethereum token climbed to $207 or right above the mid-term downtrend, just as predicted on our Friday report.
The ETHUSD is stabilizing above diagonal resistance in the early hours of trading on Monday. Next level up remains the zone around $220 ($216-$220) - equally important as $200 when it comes to long-term movement.
As mentioned already, it is visible that ETH was already rejected once exactly there - at the 61.80 ($218) Fibonacci retracement level. This is where we sit now as of the time of writing and after three straight days of gains.
Cheers,
Great moves by ETH in the last few days !
The weekend of May 16-17 was full of action. It started with a solid green candle to $200 on Saturday as buyers were not yet ready to give up their positions after falling below this important psychological level. Then on Sunday, May 16, the Ethereum token climbed to $207 or right above the mid-term downtrend, just as predicted on our Friday report.
The ETHUSD is stabilizing above diagonal resistance in the early hours of trading on Monday. Next level up remains the zone around $220 ($216-$220) - equally important as $200 when it comes to long-term movement.
As mentioned already, it is visible that ETH was already rejected once exactly there - at the 61.80 ($218) Fibonacci retracement level. This is where we sit now as of the time of writing and after three straight days of gains.
Cheers,
On daily looks stable as well even though we got reject near $216 again today, Im still bullish