Ethereum Fighting for the $470 Resistance Level
Diupdate
Ethereum for the entirety of this month regardless of the ETH 2.0 news has been in a dogfight with the 3-year resistance level placed at $470. It has tried three times now to break through and failed each time, what makes you think this next wave up will be any different?
Only reason i'm still considering this long is the price of Bitcoin rising, alts will follow that is a fact. Even if they get majorly outperformed they always follow the king. So saying this I think ETH has one more shot at closing above $470 and if it doesn't the price is going to tank and fall back down to $385.
So mathematically, if BTC touches all-time-highs or retests 19k again like it's on its way to right now, ETH should wick the $550 resistance level around the same time if not the same candles.
Also note not a single close underneath the $444 daily support level which was huge. That tells me that its just a reversal based off that hammer wick and that dump was a major stop-out for LONGs we go up now.
As always please do your own research, I am not a financial advisor.
Only reason i'm still considering this long is the price of Bitcoin rising, alts will follow that is a fact. Even if they get majorly outperformed they always follow the king. So saying this I think ETH has one more shot at closing above $470 and if it doesn't the price is going to tank and fall back down to $385.
So mathematically, if BTC touches all-time-highs or retests 19k again like it's on its way to right now, ETH should wick the $550 resistance level around the same time if not the same candles.
Also note not a single close underneath the $444 daily support level which was huge. That tells me that its just a reversal based off that hammer wick and that dump was a major stop-out for LONGs we go up now.
As always please do your own research, I am not a financial advisor.
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ETH shot above $470, heading towards TP1 🎯 at $498
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