Ethereum (ETH) is on the verge of its biggest sell-off in months. The price has run now run into a confluence of strong resistances. ETH/USD has already faced rejection at the trend line resistance for three weeks now. The horizontal resistance at $193.64 is a strong support turned resistance that has close to zero probability of being breached at this point. That being, said traders must account for all such possibilities when entering a short position. Now, the fact of the matter is that even bullish analysts and traders who think the price has already bottomed are also expecting a pullback in the future. While bearish traders and analysts expect a pullback too, they think the price could end up going a lot lower. Regardless of how low the price ends up going, the fact that both bulls and bears are agreed on the pullback means that this is a good time to look for setups to open short positions.
Every single market cycle in the history of cryptocurrencies has taken longer than…
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