Ethereum (ETH) - Edition #1
If you are bullish on ETH, now is the time!
Both charts are presenting us with bullish patterns on the daily. Of course, the sharp sell-off after the SPOT ETF launch date has been somewhat strong, but it is likely to stop in the next few days.
Let’s dive into some charts:
ETHUSD has a possible retest in the making of the previous swing lows. Strong pattern to say the least and one not to fade.
- Daily looks decent after taking out the current July high of $3,524.
- The pullback was to be expected as part of Grayscale's outlflows and is giving the perfect entry at around $3,050
ETHBTC, at the same point as the USD chart. This presents a great opportunity as the last level for bulls to step up their game, and defend this level - I would not want to see new lows if I was an ETH Maxi!
Two possible triggers to watch out for:
- A retest of 0.04790 and good momentum followed by consolidation.
- A break below that level followed by a price recovery.
Low Timeframe entries:
I have been advising everyone to stick to Solana as it has a better looking chart, but that is a binary trade over ETH. Now, if another currency is matching big entries, why not take the bait? Trade what the market gives you and right now the risk is low.
Please note that this is not a degenerate trade 😏.
