Ethereum was showing relative strength relative to the other alts as it mainly traded sideways after the little post sell off bounce from a month back.
However, that has changed over the last few days and price is now near the key support level that was tested on the prior sell off.
Third time a charm?
After testing and confirming the 1980 area support back in April price peaked above 4K before the sell off commenced at which point we can see on the chart ethereum tested the level twice with hard bounces (even intraday) off the levels.
As price is less than 100 points away from this level now, one has to wonder will we see it hold again?
If it does break then downside to 1600 is on the table. Otherwise, a hold and bounce off of 1980 again keeps price in the current range with upside to the 2900 area resistance.
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I bet it's going to break to the downside of $1600....just gut feeling
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I sold all my ETH at 1,950 so I'm betting on the same thing
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I wouldn't mind a bounce to $10,000 from $1,980, knowing that alts usually follo ETH's lead. It would have been nice if LEO would have held its price as well as ETH did.
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I say it will go back to that price of last year, since all prices went back to that time, just before the explosion.
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Yup, everything doing a full round trip as I call it.
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