With the stock market closed in America, let’s analyze what happened to Ethereum in the last month.
For those who hold crypto and have no trading experience, a bit of fear has certainly aroused this rather sudden and violent return to the average.
As we can see from the chart once the price got close to the SMA200 and in conjunction with the first important volume cluster, ETH started up again (at least it seems so).
Obviously, we do not have the crystal ball but the fact is that Ethereum held more than Bitcoin, confirming the interest of some big sharks, as already extensively discussed in the previous article.
As for me, I increased my investment in Ethereum, staying bullish for a long time.
The break of € 2000 would further confirm the resumption of the upward trend of the crypto.
As for medium-term trading, the 618 Fibonacci level, around € 2800 seems to be the best point to take profit, followed by € 3200 and obviously € 3600, still the all-time high to date.
Should the situation change and the price resumes a negative trend, I will make a further update article.
Good trading for now and for those like me who follow American equities, a good day off!
DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.