Aloha, traders!
This post will be dedicated to discussing the short and mid term projections for Ethereum (ETHUSD). I believe Ethereum will climb its way to $142 resistance steadily after the false bullish breakout followed by a cutting pullback to support at $132. If anything, however, that pullback was a fantastic opportunity to buy more in as we did. Now, we can see a reversal playing out and can expect more bullish action in coming days.
Pullbacks must be a given when trading crypto, as a breakout or breakdown is always almost immediately followed by a strong reversal. The question now is whether Ethereum will truly continue with its bullish uptrend or to pullback a second time, perhaps to even lower support, in which case a new analysis would be needed.
For the time being, however, we are holding our long position on Ethereum in the short term to reach $142.
Thanks for reading, leave a like if you agree!
This post will be dedicated to discussing the short and mid term projections for Ethereum (ETHUSD). I believe Ethereum will climb its way to $142 resistance steadily after the false bullish breakout followed by a cutting pullback to support at $132. If anything, however, that pullback was a fantastic opportunity to buy more in as we did. Now, we can see a reversal playing out and can expect more bullish action in coming days.
Pullbacks must be a given when trading crypto, as a breakout or breakdown is always almost immediately followed by a strong reversal. The question now is whether Ethereum will truly continue with its bullish uptrend or to pullback a second time, perhaps to even lower support, in which case a new analysis would be needed.
For the time being, however, we are holding our long position on Ethereum in the short term to reach $142.
Thanks for reading, leave a like if you agree!