Ethereum Setting Out for Next Leg Lower ETHUSD Forex Crypto
Enter your emailI think you have plenty of time to build up a move for the next cycle.The $2000 level offered a little bit of resistance, and we have now pulled significantly below there to think that we are going to test the lows again. At this point, the market is very likely to break below the $1700 level over the next several sessions, and when it does, I suspect that there is going to be a lot of selling pressure.
Looking at the start, I think that you will continue to see traders come in and fade rallies when they occur, and once we break down below the $1700 level, the market will see an acceleration to the downside, and it would not surprise me at all to see Ethereum enter another “crypto winter” type of action as we have seen a couple of times in the past., and therefore I like Ether, but that does not mean that I have to like it right here, right now.