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Ethereum: Buy Back or Wait for the Worst


Despite Bitcoin's declines, Ethereum was performing excellently and its decline was much lower than Bitcoin, but yesterday's heavy selling fell at Ethereum's price, the lowest psychological support of $ 3000, but Ethereum has a strong demand area around 2750 where more buyers can be expected to enter around 3000-2750 levels. In order to seize the opportunity to fall and build long positions from very low levels, if this scenario is achieved, it is possible to return to visit 3500 soon as a first step to re-target 5000.

Do not forget that the strong demand area for Ethereum is somewhat complicated and extends from 2100 to 2400, which is the area where the purchase orders are located with large contract sizes that speculators have put in reserve.

The negative scenario needs to test a further collapse below 2100 to push Ethereum to 1500, but around that area there are pending buy orders with large trading volumes that will push Ethereum into a fast and impulsive rally towards $ 5000 in a very short period.

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