Hello everyone,
How are you all? I hope everyone is fine and doing great in their life.
The market saw a nice pump recently and Ethereum is once again trading above its recently created resistance ( After breaking the ATH ). The current price is $4668 and it went above $4700 but could not hold there. The resistance above that is still at $4780 and it is the resistance that must be broken for a new ATH hunt.
The market still looks weak to me even after this pump and even the volume is not that good in either of the tokens ( BTC or ETH ).
Let us look at the two major short term trendlines that Ethereum is going to test. Right now we are above the support, that is the resistance that was broken after which we were able to go above $4700, you can see the chart in the screenshot below.
The second support is where Ethereum can hunt for liquidity, it is at $4474-4480 and that is where we can easily come but I am not giving any financial tips for future trades so please do not open short trades here. I am against the future trading and whatever you want to do, please do your own research.
For now we are in the relied zone as Ethereum saw a least value at $4200 on 1st on September since recent All time high. Let us see what the market has to offer us in next few days, the FOMC meeting is around the corner and it will had a great impact on the market.
You can see the timeline for the meetings that are going to take place in next three months. If Fed decides to cut rates then we are surely going to see a nice run in all the coins from small cap. What are your expectations from the market after rate cuts come in to play?
You can share with all of us in this post comment section, I will always love to have a crypto related discussion with anyone here or even at discord. I am almost on all the channels related to hive communities.
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I had few attacks and so I used them as you can see already in the screenshot above. We made five attacks and one of them got dodged and rest were also poorly performed as they got me less than 400 scraps. Our terracore base is with penalties but we just used the attacks.
Thank You and make sure to check Crypto Company CEO services as I recently shared in my blog. You can simply click on the picture below and it will take you to their official website.