#ETH/USDT in Trouble! $3089 SHOULD HOLD, Else...

4 Jul

ETH is currently trading at the liquidity level I mentioned in my updates a few weeks ago. The price has hit the yellow box and is supported by the lower trendline, which has been acting as support since October 2023. This is a crucial level to hold.

The lower support of $3,089 is marked by the 200 SMA. Oscillators are excellent tools for indicating changes in momentum and market psychology.

If the price breaks and closes below the $3,089 level, it could plummet to the $2,600 area. Conversely, a bounce could send ETH back to the $3,500 area, leading to a relief rally for other altcoins as well. Although less likely, this scenario is still possible.
All the 30+ altcoin charts that I've posted in the last 2 weeks are slowly moving to the accumulation area.
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Thank you,

#PEACE