$ETH
Added 2024-08-19 12:00:05 +0000 UTCCrypto spent the whole weekend consolidating again and it still appears to need another catalyst to move this forward again.
$ETH has pulled back a lot more than the $BTC, as it has already tested and held on its 0.618 Fib, $BTC on the other hand has only hit its 0.618 Fib, so again, I prefer $ETH's R v R here as it has pulled back a lot more, to the standard ABC correction level.....meaning $BTC is still at risk of pulling back further, while $ETH may have completed its correction now.
The 50 weekly MA has been the resistance level for $ETH so far, so a small pull back may be needed before it can make another attempt at breaking above the $2700 level and holding.
I may add one more time if we get a pull back to between the $2400 - $2300 levels
Comments
$ETH has already pulled back to its 0.618 Fib
Gareth Neary
2024-08-21 21:36:45 +0000 UTCBut doesn’t BTC drag everything down with it? How would ETH weather that storm?
Raynier Benitez
2024-08-21 21:21:32 +0000 UTC
