Ethereum Update - Bottomed Out Again

Anything below the 169 price point level is all institutional level players buying. Marked in the yellow box is the prime point to buy-into Ethereum. All this was is just extra accumulation, to everyone thinking we're going down to something crazy like sub $100 prices, we're not.

A $100 Ethereum just isn't feasible anymore, right now is your lowest point you can buy into it. All of these coins are finishing up their accumulation, and won't stay at these prices forever.

Start of October, ethereum broke its July downtrend, the one from the spike up in June to $380. Now, it looks like its ready to make another move higher.

Ethereum and all of the other altcoins have slowly been gaining in their bitcoin values since the beginning of September. The Bitcoin dominance is dropping slowly but surely. The big players like to shake out weak hands and retail traders by crashing the market like this every so often.

Now ethereum is hovering around 169-172 right at that 4H support. Its held this 169 considerably strongly, meaning I don't think we're going to see a lower price in ethereum.

All this dip was is just consolidation from the previous spike up, not a bear market, or the coin is dying, no nonsense like that. Just take a look at that spike up to $221, that happened in the span of 3-4 days. Of course we're going to see an even more aggressive sell off to another low, then re-accumulate to do it all over again.

Ethereum looks like its ready to blow through that 188 level, because it has already 1st touched and closed over it. 1st touches reject 95% of the time. It even closed above and tried to regain the uptrend as support.

Now, next time we come up and test the uptrend, we will regain it as support and ethereum will continue heading upward.

As always please do your own research, I am not a financial advisor.