It feels like talking about market trends is not as good as talking about the $ETH exchange rate.
The overall Ethereum exchange rate is in a wide-ranging consolidation between 0.03333 and 0.0307. The current price is already approaching the nearby support around 0.0314.
Due to suppression by the red downward trendline, Ethereum’s recent rebounds have been relatively weak, while pullbacks have been stronger. But there may be a reversal next week.
---I’m not personally betting on a break of the support at 0.0314 for the next move; I’m assuming that support has already been established. Going long next week, Ethereum is the preferred choice; going short, the $BTC profit potential will be larger (excluding when broken except 0.0).
---And Ethereum itself is basically following a range-trading script between 2640 and 2790. When the price is close to the lower boundary, it’s also a good spot to consider going long on dips. Bitcoin is still quite far from reaching the entry zone.
The overall Ethereum exchange rate is in a wide-ranging consolidation between 0.03333 and 0.0307. The current price is already approaching the nearby support around 0.0314.
Due to suppression by the red downward trendline, Ethereum’s recent rebounds have been relatively weak, while pullbacks have been stronger. But there may be a reversal next week.
---I’m not personally betting on a break of the support at 0.0314 for the next move; I’m assuming that support has already been established. Going long next week, Ethereum is the preferred choice; going short, the $BTC profit potential will be larger (excluding when broken except 0.0).
---And Ethereum itself is basically following a range-trading script between 2640 and 2790. When the price is close to the lower boundary, it’s also a good spot to consider going long on dips. Bitcoin is still quite far from reaching the entry zone.