I have been watching ETH very closely and in my opinion, ETH has shown a consistent refusal to drop below $2600. Despite numerous events, and warnings from those who have been predicting a big drop, whenever the price has dipped below $2600 it has snapped back above, and in fact has tried repeatedly to push higher but seems to have strong resistance around 2800-2900. But mainly, I am interested to see this stubborn support at $26K. I can only think that better minds (institutions, whales?) than me must know something that I dont - mainly that $2600 must be a bargain - and are snapping it up the minute it dips below $26K.
In just the last half hour, it has happened again. A quick drop to the $2560 region, with a quick snap up above $2610. Therefore, I have to go with what I see, and there wouldn't be this consistent buying below 26K if ETH was either overvalued, or facing an imminent plunge of any significant scope or duration. Also, I do feel that ETH is gaining dominance over BTC. with it's clear strength, versus the BTC slow decline.
So in my opinion, I would be putting my money into ETH if I only had one investment to make. It is possible that something could suddenly change and there could be a more significant drop below 26K than we have seen. I think it would have to be a general market decline for this to happen. However, again based on this strong support at $26K, I think any such drop would be limited in scope and duration. I therefore am calling it now - long on ETH at 26K and buying any dips.
I always appreciate and respect any and all input or opinions, even those that differ from mine. I'm still a student after decades of investing and welcome all learning opportunities.
In just the last half hour, it has happened again. A quick drop to the $2560 region, with a quick snap up above $2610. Therefore, I have to go with what I see, and there wouldn't be this consistent buying below 26K if ETH was either overvalued, or facing an imminent plunge of any significant scope or duration. Also, I do feel that ETH is gaining dominance over BTC. with it's clear strength, versus the BTC slow decline.
So in my opinion, I would be putting my money into ETH if I only had one investment to make. It is possible that something could suddenly change and there could be a more significant drop below 26K than we have seen. I think it would have to be a general market decline for this to happen. However, again based on this strong support at $26K, I think any such drop would be limited in scope and duration. I therefore am calling it now - long on ETH at 26K and buying any dips.
I always appreciate and respect any and all input or opinions, even those that differ from mine. I'm still a student after decades of investing and welcome all learning opportunities.