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Tuesday, September 27, 2022

Ethereum held support, new leg up is probable (2.5k in mid term)

Ethereum held support, new leg up is probable (2.5k in mid term)

Ethereum / U.S. dollar BITSTAMP:ETHUSD

As I said several times in my recent Eth analysis, the 1250-1300 zone is a very important support for this coin and, in order for bulls to hope for a reversal, this level is imperative to hold.
So far, so good...after a few days of flirting with this zone, the price reversed strongly and now is trading close to the 1400 figure which can be an indication that indeed, support held, a higher low is in place and bulls can soon take control.
I expect a continuation to the upside from Eth and 1750 and 2k could be reasonable targets in the next weeks.
Going further, a break above the recent 2k high could lead to more gains towards the very important 2.5k zone.
Buy dips as long as 1250 is intact can be a good strategy with great R: R



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