Has Ethereum Bottomed??

13 May 2022

Ethereum appears to be attempting a nice recovery, gaining footing after testing the $1700's. Recall that $1771 is a strong Fibonacci level on the daily charts and that is exactly where we have found support. We have subsequently rallied back to the 2K's, currently contending with $2100. The Kovach OBV is still very bearish, so be very careful trying to catch the bottom. If you're thinking longer term, and are OK with the potential for lower prices, it may be a good idea to start tiering a long position. This level of volatility is to be expected near a bottom.