Where is the POSITION of the movement $ETH ??
Hello TRADER friends On FIRE 🔥🔥🔥
The movement $BTC has affected most other Crypto Coins...
In this case, it also affects #Ethereum
What do you think about the movement of Ethereum?? Let's analyze ETH together.
$ETH Price is traded in a technically sensitive area after the recent liquidation event at the end of January. That alone is enough to make it worth monitoring, but it does not automatically change the outlook to bullish. We did see a bounce yesterday, which may indicate that Ethereum is transitioning to the next phase of the anticipated wave B rebound throughout February. However, the structure so far still appears to be corrective. There is no clear impulsive expansion and no confirmed structural breakthrough that would indicate a sustainable low. Ethereum also continues to lag behind Bitcoin. The ETH/BTC pair remains in a downtrend, highlighting relative weakness. In a stronger market environment, ETH tends to perform better. Currently, that is clearly not the case.
Even if the price continues to rise from here, the base scenario remains that this is part of a larger wave B. And wave B is known to be deceptive. This wave can be quick, sharp, and convincing, often creating the impression that a new uptrend has begun, only to then return to the lows and continue the previous decline. Unless we see a clear 5-wave movement upwards or a decisive breakout above the weekend's highs, the scenario allowing for further declines remains the more likely path. The focus remains on the developments of the micro structure. #Ethereum
Stay ENTHUSIASTIC on FIRE 🔥🔥🔥 and Be Cautious INVESTING and DYOR
Hello TRADER friends On FIRE 🔥🔥🔥
The movement $BTC has affected most other Crypto Coins...
In this case, it also affects #Ethereum
What do you think about the movement of Ethereum?? Let's analyze ETH together.
$ETH Price is traded in a technically sensitive area after the recent liquidation event at the end of January. That alone is enough to make it worth monitoring, but it does not automatically change the outlook to bullish. We did see a bounce yesterday, which may indicate that Ethereum is transitioning to the next phase of the anticipated wave B rebound throughout February. However, the structure so far still appears to be corrective. There is no clear impulsive expansion and no confirmed structural breakthrough that would indicate a sustainable low. Ethereum also continues to lag behind Bitcoin. The ETH/BTC pair remains in a downtrend, highlighting relative weakness. In a stronger market environment, ETH tends to perform better. Currently, that is clearly not the case.
Even if the price continues to rise from here, the base scenario remains that this is part of a larger wave B. And wave B is known to be deceptive. This wave can be quick, sharp, and convincing, often creating the impression that a new uptrend has begun, only to then return to the lows and continue the previous decline. Unless we see a clear 5-wave movement upwards or a decisive breakout above the weekend's highs, the scenario allowing for further declines remains the more likely path. The focus remains on the developments of the micro structure. #Ethereum
Stay ENTHUSIASTIC on FIRE 🔥🔥🔥 and Be Cautious INVESTING and DYOR