ETH ANALYSIS:
ETH is coming down on a strong sell off as alt market continues to bleed out. ETH does has a green light in sight as it comes down to the temporary support from .02000 to .02070. This is the ideal entry for a long position. Volume can still have another one or two legs down as price bottoms inside green box, which is why entry goes down to low .02000s and may even dip a bit under to fake out longs. With that said, I do expect a strong bounce off support up to T1 at .02140, and on to T2 at .02184. Lastly the T3 at .02660 falls inside the resistance band. Again, this is another coin which will see the relief rally short lived. I expect a rejection to occur near the strong resistance. Therefore, this is not a long term hold, close position fully by T3.
Possible Entries: .02000-.02070
ETH is coming down on a strong sell off as alt market continues to bleed out. ETH does has a green light in sight as it comes down to the temporary support from .02000 to .02070. This is the ideal entry for a long position. Volume can still have another one or two legs down as price bottoms inside green box, which is why entry goes down to low .02000s and may even dip a bit under to fake out longs. With that said, I do expect a strong bounce off support up to T1 at .02140, and on to T2 at .02184. Lastly the T3 at .02660 falls inside the resistance band. Again, this is another coin which will see the relief rally short lived. I expect a rejection to occur near the strong resistance. Therefore, this is not a long term hold, close position fully by T3.
Possible Entries: .02000-.02070