Hi guys.
This is an update on Ethereum. As I expected, the tool received support due to positive FUD from the CEO of Black Rock. And with the price of Bitcoin falling, Ethereum looks stronger. While Bitcoin fell by -15%, Ethereum corrected by 10%.
The price actually lies at the support of 2500. But if Bitcoin goes lower, Ethereum will also test 2400-2300-2200, there is no doubt about it. Since the correlation is almost 100%.
What can be done in this situation? For myself, I have identified ether as promising in the medium term because of a possible spot ETF, so I will add an instrument during corrections, but this is more of a swing trade. If we talk about short-term speculation, then I am waiting for a false breakout of 2500 or a breakout of 2550 on volume, so far this has not happened. But the delta shows that a buyer has appeared, but so far it looks weak. But I like the increase in open interest.
Stay tuned.
