Ethereum is the second most popular crypto, following Bitcoin with a market cap of $259.11B Digital Assets List from forbes. It is a very strong digital asset that has maintained that second position after its launch in 2015. It has along side other digital asset seen the ups and downs, bulls and bears along side the mighty Bitcoin. While others refer Bitcoin the King of the digital asset, I call Ethereum the Queen. That does not make this Digital asset a pussy. Ethereum has come to stay like every digital asset. Ethereum is here to stay
My brief analysis is starting on a monthly time frame, where we can see that this sexy Queen has found support around $2,060 region. This has been confirmed because this region use to be a previous support, then later became a resistance and now support. Expectedly it should not break below $2,000 any deep from this region should be seen as an opportunity.
We can categorically agree that the weekly Time Frame has truly agree with the monthly time Frame. This popularly called correlation. It is obvious from the screenshot that the Ethereum has since long been consolidating between the resistance found around $4,087 and $2,060. This another indication that the next direction is upward. Do not mix emotion with trade
Looking at a lower time frame for my best entry point with more research is a going to be a win for me. I must see a confirmation of a bounce before I open any trade
Disclaimer: Digital assets are very volatile and a lot of money can be lost during trading
Do not trade with money you cannot afford to lose as this is not a financial advice