Update on Ethereum, on this Sunday at the end of September.
After the price hit the two targets I had predicted in the previous article, it kissed € 3,387 on September 3, and then suffered, following Bitcoin, the heavy sell-off of September 7, which reversed the trend of the largest share part of the cryptocurrencies.
At this time, although we are still clearly in a bearish trend, we can see that the price reacted three times to € 2350. We could find ourselves facing an upward reversal, with the probabilities that will increase if the daily candle today or in the next few days closes above € 2706.
The relative strength of Ethereum always proves to be on a par if not even greater than that of Bitcoin and it is no secret that many institutions consider it even more important, in a future key than the mother of cryptocurrencies.
If the scenario were to come true, my updated medium-long term targets are:
– € 2800 (accumulation lasted the entire month of August)
– € 3200
– € 3600 (all time high
If the price should break the € 2260 then we should start planning new fats (in the case of buy & hold) or a stop-loss if you trade. In any case, interesting entry levels in my opinion are:
– 2000 € (psychological threshold and resistance in July)
– 1500 € (very important level, double low which marked the restart of the positive trend in July)
Happy Sunday everyone and good trading.
DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.