ETH market analysis!
ETH performs better than BTC. Although it has fallen with BTC, it is still struggling near the upper track of the weekly line.
The key point is here:
The resistance level is around 3400, which is an important level on the weekly line. If it stands firm, ETH will follow the trend of BTC. The support level is between 3220 and 3140, as I said yesterday. Moreover, the price is still supported by the daily MA120, which is around 3360. The RSI index is 56, which is 1 point higher than yesterday. The market sentiment is relatively stable. Following BTC, the bulls are quite neutral.
In summary: Don't rush to chase when it rises, and don't panic when it falls. If you are bullish, look at the weekly resistance level, and continue to be optimistic if it breaks through; if you are bearish, look at the daily support level. As long as it does not break, it will not fall much in the short term. Even if it falls, you can still make some money. The key is to look at your stop profit and stop loss.
