The pump a few days ago has helped ETH break the 50W MA that it'd been under. That said, we have had almost 9 green candles with signs of exhausting momentum. Price has retraced a lot & one may say that the target is reached.
I see two scenarios:
1. Price continue to go up driven by Sunday whale pump (around 12pm UTC). The $550-$600 zone is where 50D, 200D & 0.618 / 0.5 fibo levels are at. That provides a good dump opportunity that will send the price back down possibly to $360 levels.
2. Price corrects from here and seeks support from 50W MA.
I see two scenarios:
1. Price continue to go up driven by Sunday whale pump (around 12pm UTC). The $550-$600 zone is where 50D, 200D & 0.618 / 0.5 fibo levels are at. That provides a good dump opportunity that will send the price back down possibly to $360 levels.
2. Price corrects from here and seeks support from 50W MA.
Nota
bearish divergence; drop soonNota
Nota
can't believe how bullish the market has been. will it drop or not?in theory should correct a little, but people are crazy now
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