ETHEREUM Looking To Bounce From Oversold Conditions On Longer Charts
The markets got hammered yesterday. It probably won't be overnight that they recover (especially given sentiment and the longer term bear market). I don't think we will recover to the prices we saw last week yet, but we should definitely see a nice oversold bounce and rally to the major resistance levels.
Right now, major resistance is at $575 and $580. I don't anticipate seeing enough volume to rally and break those levels, but we should definitely see enough pressure to see a longer bounce play out.
Yesterday was hard, but it's the testament to being patient and waiting for these bounces to play out and get a better exit price that helps us. Continue to be patient.
Technical indicators are favoring the bulls right now for this bounce to play out, so I should give it a couple days at least.
Thanks for posting this update! We see it what happens
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