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- ETH approaching the long-term support line may soon hit it.
- But before dawn, another darkness went away.
Ethereum's long-term bulls have some reason to hope that the third largest crypt is approaching a key long-term support line that would help the bottom of the coin. But before that happens, there's still some downside pain.
ETH / USD rose 0.8 percent on the day to $ 83.66, trading in less than 3 percent in low-volume weekend trading. In the daily chart, as highlighted several times by this author, the third largest cryptography approaches the lower end of the long-term triangle.
The bottom of this leg is about $ 65- $ 67, which is about 25 percent deeper than current prices. The bulls must sweat long before they can claim their land. Until then, the battlefield of bears.
Daily ETH / USD chart:
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