Ethereum, on the other hand, is looking much better than Bitcoin, where we did catch a nice bullish move from the last touch of that lower support trend, where we also caught the start of correction, which is still undergoing!
We expect to see a further move to lower zones here but not that big one, where every drop on ETH would be a good buying opportunity for spot holdings for sure.
The major target for the start of the buying opportunity for us would be near $2,800-2,900.
Note
On a daily timeframe, we are looking for proper support to form on the coin, where the first ideal zone would be near $3,050, which is near the 200EMA line and also marks as some kind of neckline zone for a possible H&S pattern there.
Now ideally this would be the zone we would be looking for the start of DCA, as we might still fall from there towards our second support zone, which will be a much stronger zone from where to bounce off.
This being said, we are still bullish on Ethereum; just a slight correction would be a logical move here, in our opinion!