The price action on ETH is showing signs of improvement. After bottoming out around 1800 or so price pushed above the 2K mark and is looking to hold.
Higher Low Forming?
Looking at the chart above you can see after holding that 1800 area price is now forming a higher low (highlighted) above 2K.
This would mark the first item to break the downward slide where we kept seeing lower highs and lower lows.
It is still early so I'll wait to see how it plays out but if there is any follow through on today's green candle and price pushes passed 2280, then the price action has gone from negative to atleast neutral.
In that scenario then the 2600 and 2900 levels would be the next upside targets.
I may have to unwind my small short now that price action doesn't look so bad anymore.
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I think ETH will still be a huge player in the 2nd half of this year as the markets warm back up.
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Hello @scaredycatguide, I don't normally comment on your posts because I don't know how to read charts and I don't fully understand them. I have seen you posting chart patterns and doing TAs and it really intrigues me. Want to learn how to do this. Any pointers? :)) I'd really appreciate it if you could suggest some courses or books or videos on this topic.
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Hey, it's funny you should ask. I actually have an intro to charting/trading course on my website: https://scaredycatguide.com/education/intro-to-crypto-trading
I would also suggest a book titled Candlestick Charting Explained.
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I guess I was just being a scaredy-cat. 😋
Thanks a ton, this helps! I will definitely check out the course and the book as well.
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You are True
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I'm more interested in ETH for the rest of the year than BTC.
Don't get me wrong, I'm not selling bitcoin. But ETH is likely to have an amazing run.
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Yeah, eth is very interesting right now with all the looming upgrades and the competing chains like BSC and Polygon. Should make for some good volatility atleast.
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