A Game of Coins | ETH Retracement Support Levels
Following hot on the heels of LTCUSD, ETHUSD is having an exuberant run on the price action.
There is a good amount of volume to back up the price action, however, not in the league of LTCUSD.
Support Levels at:
1) ~$535 USD - this aligns with the 0.618 FIB level, and I would expect this to hold in the near term
2) ~$510 - aligning with the 0.786 FIB level - the round number may play a part of being a strong support level should it pass Support 1
3) ~$480 - a support level that has been previous resistance dating back several weeks/months, making for a 100% retracement from the current ATH's
The current mania, may be playing into the hands of many coins. As such, I feel this particular run is over extended, therefore;
Near Term Trading Standpoint = SHORT
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There is a good amount of volume to back up the price action, however, not in the league of LTCUSD.
Support Levels at:
1) ~$535 USD - this aligns with the 0.618 FIB level, and I would expect this to hold in the near term
2) ~$510 - aligning with the 0.786 FIB level - the round number may play a part of being a strong support level should it pass Support 1
3) ~$480 - a support level that has been previous resistance dating back several weeks/months, making for a 100% retracement from the current ATH's
The current mania, may be playing into the hands of many coins. As such, I feel this particular run is over extended, therefore;
Near Term Trading Standpoint = SHORT
A Game of Coins
Created to share | Cryptocurrency| Trends | Trading | Investing | Data Analytics
Join us on Twitter and Telegram
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