Ethereum Dips Further, Relief Rally Near??

30 Des 2021

We anticipated another dip for Ethereum and that's exactly what we've observed yesterday, as priced headed further into the 3K handle, finding support at *exactly* the level we explicitly spelled out yesterday. Astute readers should have been prepared to buy the dip at $3646 and $3563. We do appear to be finding good support at these levels but if the selloff continues then $3473 is the next level. We saw a decent pivot from the lower levels identified. The extent of the selloff is becoming less and less, and green triangles on the KRI are suggesting we are finding support at every dump. This suggests that we may see a relief rally soon with $3765 and $3861 likely targets. Don't get caught in a 'bull trap' if we do see such a rally, as there really isn't anything to support a formidable bull trend.