Ethereum Held Support After The Crypto Sell Off
This past week saw a nasty sell off in crypto. Most coins broke key support levels with the most noticeable being bitcoin's break of 9,400. The ethereum story is a bit different.
Hanging on to Support for dear life...
The 168 area has been an important price support for ethereum and after poking through it early in the week only to give us a reversal candle (see long bottoming tail) that closed price in the support area.
From there we got a tiny bounce before seeing some red again. Price is still above that last little low and more importantly still holding this support.
If we get a move lower by the broad market then price will likely break lower, but if the market gives us some sideways action at a minimum then ethereum looks positioned to make some kind of rally, even if it's just to meet the moving average.
Thank you for posting from the https://steemleo.com interface 🦁
Do you have a glossary of sorts that includes many of the terms thrown around here? Candles, falling knives, triangles...
You just gave me a great idea for a post! You shall have one in the next few days :-)
I bought some as I am still accumulating enough for the future POS staking and an opportunity to gain some passive income.
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