Just like Bitcoin, Ethereum is experiencing a lot of weakness over the last couple of weeks. However, ETH is still technically in an uptrend.
However, if this bullish trend line breaks, we might face further downside, potentially even the start of a bear market.
Today, all eyes are on the FOMC meeting. With bearish news, we will see further downside and trade bearish along stocks, potentially close the week below the trend line. In case of a bullish reaction, it could be the catalyst for a substantial bounce from this trend line.
In case we close the week below this trend line, we'd be looking at $3000 to hold.
Happy trading!
However, if this bullish trend line breaks, we might face further downside, potentially even the start of a bear market.
Today, all eyes are on the FOMC meeting. With bearish news, we will see further downside and trade bearish along stocks, potentially close the week below the trend line. In case of a bullish reaction, it could be the catalyst for a substantial bounce from this trend line.
In case we close the week below this trend line, we'd be looking at $3000 to hold.
Happy trading!
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