Is Ethereum crypto dropping to $400O or rallying to $3K? That’s the one million dollar question in the crypto world. As you probably know, the crypto market does not move in straight lines; it just doesn’t work like that. Ethereum $ETH started to drop last December 2021, and it has not stopped the dump yet.
Since the sell-off started on ETH a few ago, the second largest crypto has been trying to reach the $400 level or even lower at around $180. Price action is mainly made of impulses and corrections. The bearish impulses are much stronger than the bullish ones on the Ethereum cryptocurrency. That tells us a lot about ETH. There is a lot of room for Ethereum to keep dropping much lower, as you will see in this video analysis. It’s not a good time to buy or sell ETH futures and not a good time to buy and hold ETH coins. Will it rally to the $3k price level, or will it drop after the bullish correction that started last June 2021? Watch Ethereum crypto analysis to hear a much more detailed crypto analysis for the second largest crypto.
As supply and demand traders, we do not need to pay attention to the DeFi news or fundamental analysis. Unless you are doing very short-term trading and scalping, you should not worry about fundamentals for cryptocurrencies.
Trading is just waiting for the right trigger points and scenarios to present themselves, this game has a name, and it’s called the waiting game. We must patiently wait for the correct scenarios and setups to happen and for the price to pull back or dip into the price levels we want to trade. These price levels are made of supply and demand imbalances in our case. You can use these imbalances to plan your trades in lower timeframes.
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