$ETH
Added 2024-06-24 11:44:07 +0000 UTCCrypto is showing a lot of weakness to start the week, led by $BTC and all crypto related positions are feeling this impact.
$ETH has lost its 200 Day MA just above the 0.5 Fib but has since found support on the 0.618 Fib at $3260.
Any time the 0.618 Fib is lost on a Subwave 2 pull back, which is what we believe this is of Wave 5, weakness is shown.
That being said, the 200 Day MA is just at the 0.78 Fib now at $3065, making this a confluence level......as always, the market loves giving you a second chance, especially if you missed the explosive climb after the wedge breakout in the middle of May.
I have one more buy left for $ETH and I will wait for support to be confirmed before adding, not ruling out the 200 Day MA here either.
