Ethereum

Ethereum&#39;s recovery ended yesterday when the token tried to reconquer the 3.3k area. This crucial level was a strong resistance, and Ethereum was rejected immediately.Today, ETH is down 1% and trades at a level of 3.2k.But what&#39;s next? Here are three scenarios.1 — The U.S. digested the Trump speech and related (small) sell the news and is ready to pump the market again. Especially the Bitcoin conference in Nashville sent out tons of bullish signals (Saylor&#39;s prediction, two presidential candidates speaking, etc.). As a result, I wouldn&#39;t be surprised if we saw another pump today that catapults Ethereum above 3.3k. As a result, this would be a strong signal for the start of the week and essential in terms of a weekly candle close.2—The second scenario is more bearish. In this case, Ethereum will continue to descend slowly today. However, once the markets open on Monday, Ethereum will dive below the level of 3.1k and finally re-test 2.8k, where it finds its bottom.3 — Ethereum moves sideways without notable attempts to break out to the top or test lower support levels.The question is, which of the scenarios will play out in the end?- Personally, I think #3 is highly unlikely. The market is massively volatile, with tons of news every day. At the same time, Bitcoin and many other tokens are at decisive levels, and it is unlikely that they will remain there for a longer time. Therefore, I give this scenario only a 5% chance.- Obviously, #1 is the preferred scenario. Moreover, news and events we had in the last few days would have pumped the market to the moon a couple of years ago. Currently, it feels like the last spark to ignite the rally is missing. Therefore, I give this scenario a 35% chance to play out.- Accordingly, I think the (short-term) bearish scenario is the most likely at the moment and rate the chances at 60%. However, at the same time, I think that 2.8k will be the bottom, and we will start a fresh pump from there.---Want more? Join my daily newsletter to receive stories, insights, and the hottest trade setups every weekday! Check my profile for more details.

Ethereum — Three Scenarios For The Next Days (And How Likely They Are) — A Personal Opinion!

Ben Walther

Další články publikované 28. 7. 2024

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