Ethereum Daily Dose 3/27/19 | Stopped at critical point

28 Mar 2019

Not much has changed for Ethereum since yesterday but there was an attempt by the bulls to try to move past $143 but that is where this run was stopped short. This is where the 38.2% Fib line was for the downtrend right at $142.73 and if you look at the local high, it was stopped at $142.19. This spells trouble for ETH in the short run because a stop at 38.2% means that the trend would continue going down. But like I said in my previous post, I am still looking to short if we reach the 61.8% Fib line at the $154 area or long at $127 and even though we’ve pumped ~7% in the past 2 days, my prediction remains the same. We will go through a retracement within the next day but it is still unclear which direction ETH will go so I would not recommend trying to market order in at this price of $140.