Ethereum (ETH) - 21/7/2022 idea
Market is currently in process of correction from that huge rally we had during the past week or so.
1250 level on ETH is very important for buyers to defend as it is where we broke out from and was previous heavy resistance,
under that level we're entering heavy bear territory which would lead us to somewhere between $500-600 where I think we will potentially see a macro bottom for ETH.
I believe that the bullish scenario is more likely as market didn't have time to catch this rally, thus 1250 should act as a strong buy zone.
1250 level on ETH is very important for buyers to defend as it is where we broke out from and was previous heavy resistance,
under that level we're entering heavy bear territory which would lead us to somewhere between $500-600 where I think we will potentially see a macro bottom for ETH.
I believe that the bullish scenario is more likely as market didn't have time to catch this rally, thus 1250 should act as a strong buy zone.
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