The general rule has always been: The bigger the correction, the bigger the impulse. Ethereum broke out of the massive bull run we had recently and is giving us a bigger and deeper correction.
There are a few places where we can look for price reversal.
First area is the $2650 where we have previous structure.
Second area is where we have the Major trendline and the 100EMA. Previously, ETH tested the major trendline and 100EMA multiple times and rejected it every time.
For confirmation that the correction has ended, watch the descending trendline for a breakout.
There are a few places where we can look for price reversal.
First area is the $2650 where we have previous structure.
Second area is where we have the Major trendline and the 100EMA. Previously, ETH tested the major trendline and 100EMA multiple times and rejected it every time.
For confirmation that the correction has ended, watch the descending trendline for a breakout.
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Ethereum Update:
