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$ETH Update.
$ETH appears to have found its bottom, and the dip was quickly bought.
My buying zone from last year at 1,800$ has acted as strong support.
I believe that level may have been the bottom.
But as always, there are two scenarios: up or down.
What needs to happen for the price to move higher?
Short answer:
$ETH must break above 2,800 with one strong weekly candle and move without a deep correction toward the global resistance around 3,200.
Only in this case can the rally become sustainable and push the price toward new highs.
The downside scenario:
As long as $ETH remains below 2,500, there is still a risk of another retest of the 1,800 buying zone.
For a real move higher, early longs should not have time to enter.
The price needs to spike quickly toward resistance levels where shorts will open.
Then liquidations of those shorts can fuel the next leg of growth.
My portfolio: $TEL $TIA $APT $AVAX $ETHFI $LDO $OP $ETH $ONDO $ENA $MANTA $ALGO $ZK $XNO
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