To start longing the bull market again ETH needs to break out of the red line downtrends. Best case for long would be a clean bounce off the first green line into a 4h close through the first red trendline.
If the first purple support breaks I'd expect a drop down to the second purple support line with a few wicks testing the bottom green line. A break out of the green trend structure would mean a strong downtrend for the coming week.
Whatever ETH does will set the trend for most altcoins for the coming week.
If the first purple support breaks I'd expect a drop down to the second purple support line with a few wicks testing the bottom green line. A break out of the green trend structure would mean a strong downtrend for the coming week.
Whatever ETH does will set the trend for most altcoins for the coming week.