The Ethereum market pulled back a bit on Wednesday after having a three-day rally to lift the market quite drastically. Forex cryptocurrency ETHUSD
At this point, it is very likely that we will continue to see noisy behavior, and I think that will be a mainstay in themarkets as we trying to figure out whether or not we are going into “crypto winter”, or if we are trying to stabilize. If we do get stabilization, it does typically end up being a long and drawn out process. That being said, the best thing that you can see in the Ethereum market, right along with anything else crypto-related, is going to be very quiet trading.
If we do break down below the most recent lows, it is very likely we will go looking towards the $2000 level which in and of itself will attract a certain amount of attention. I believe at this point that breaking below the $2000 level opens up “crypto winter”, when crypto falls drastically and does nothing for an extended period of time. If that does in fact happen, I will be more than willing to step in and start buying again in order to build up a huge position.
The alternate scenario is that we get a daily close above the $3000 level, which would be extraordinarily bullish. At that point, I am more than willing to start adding to my position in Ethereum, which I have recently picked up just a bit in order to add to a collection longer term. That being said,Top Forex Brokers
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