) rebounded off the strong support near $1,073 on Nov. 22 and broke above the downtrend line on Nov. 24. This suggests that the bulls are attempting a comeback.The ETH/USDT pair could next rise to the 20-day EMA , which is an important level to watch out for. If buyers overcome this barrier, the pair could attempt a rally to the resistance line of the descending channel pattern.
On the other hand, if the price turns down from the 20-day EMA, it will suggest that the sentiment remains negative and traders are selling on rallies. The bears will then endeavor to pull the price to the support line of the channel. If this support cracks, the pair could plunge to the critical support zone between $1,000 and $881.) broke below the strong support of $258 on Nov. 21 but this proved to be a bear trap. The price turned up on Nov. 22 and the momentum picked up further on Nov. 23.
On the contrary, if the price turns down from the current level and breaks below the moving averages, it will suggest that the pair may remain range-bound between $258 and $300 for a few more days.
It’s all relative to your belief in crypto.
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heavy
Checked Bitfinex order book and there is still negative signs only
Why is premature?
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