Ethereum just closed with the largest bull volume day we've seen since December last year. We didn't even see that much volume on the push to the ATH's. Is this a bottom and reversal? We'll, no one knows now. We are due for a bounce though.
I was calling support between $82-85. Bulls rejected all prices below this, and we saw closes above the $88 level. Since the daily and weekly are now oversold, the bounce is inevitable. If you look at the charts for other cryptos like BTC, there's just a huge slide without any bounce. This typically never can sustain, so the bounce is very much on the horizon. Sustained volume is going to be the kicker here though. If we were in a bull market, we could say with high, high, high certainty that we'd bounce here. However, this market and BTC correlation is unknown.
At any rate, prices have been decent here, so if you're a long term holder, then this is a good spot to jump in since we haven't seen these prices in going on two years.
