Hi team,
My opinion is to short ETH for the next few days as its nearing a price correction after a strong rally.
Option 1 on the chart shows retracement back to 0.382 FIB and a mid June 2021 $2640 level. Rebounding after to rally further up.
Option 2 on the chart shows retracement back to 0.618 FIB territory and a strong support at $2400, which is also July's peak level.
In conclusion, in my opinion ETH with go down in short term to price correct after an update rollout and a long rally streak. Please provide some feedback as this is my first time posting an idea.
My opinion is to short ETH for the next few days as its nearing a price correction after a strong rally.
Option 1 on the chart shows retracement back to 0.382 FIB and a mid June 2021 $2640 level. Rebounding after to rally further up.
Option 2 on the chart shows retracement back to 0.618 FIB territory and a strong support at $2400, which is also July's peak level.
In conclusion, in my opinion ETH with go down in short term to price correct after an update rollout and a long rally streak. Please provide some feedback as this is my first time posting an idea.