Ethereum’s High Time Frame Structure Looks “Great” Due to Technical Support

5f79ad974144f

Ethereum has undergone a strong correction from the 2020 highs near $490. The leading cryptocurrency currently trades for $345, down 30% from the aforementioned highs. Many investors have pointed to this correction as the start of a longer-term bearish trend for ETH. This may not be the case: analysts say that Ethereum’s long-term outlook is still positive. They cite pivotal technical factors, including but not limited to a strong set of technical levels below ETH’s current price. Ethereum Still in a Bullish Long-Term Position, Analyst Says Analysts are still optimistic about Ethereum despite a strong drawdown from the local highs. One cryptocurrency trader recently shared the chart below, noting that while ETH has faced a correction, it remains above a series of exponential moving average supports. “Personally with so much uncertainty in the market it is very possible we see a $300 region retest, that said honestly HTF structure is…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE