After more than a 46% drop in the Ethereum price in just a single day, a lot of crypto traders are getting scared to buy the Ethereum deep. Well, in this Etheeum analysis we are explaining if buying the deep at this point in time is a good idea, and the key levels you should be watching for either a take profit or get the hell out of this trade setup right now!
Was The ETH Dump Predictable?
Yes, it was and we in fact did predict it. Both for Bitcoin Crash To $28k? Read This Before Buying the Deep and for the Ethereum price chart where we talked about the $3,579 key support level and how a price break below it could signify a massive sell-off in price Ethereum Sell-Off Might Be Over! Watch This Key Level.
Well, if you have not been following our daily technical analysis and were on the wrong side of the market during this crash, now is the right time to subscribe and become part of our vibrant community. we post daily technical analysis on our website.
But enough of that, back to the Ethereum analysis. In this analysis, we will be answering the most important question:
Is this the right time to buy the deep on the Ethereum price?
ETH Bouncing Right Now. Buy?
The ETH price is currently bouncing off the $1,861 supportlevel. This levels as served as a key level in the past before. As far as the Etherum price continues to trade above this regiom, we will remain bullish on Ethereum.
So if you are buying the ETH deep at this current price region, you would want to put your stop loss below the $1,861 region. A break below this support region could triger more sell-off for the Bitcoin price in the coming days.
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For more trading ideas visit our Youtube channel, where we talk about the latest partners and price predictions on the crypto chat. In the video below we analysed the Bitcoin price chart and talk about the key levels to atch
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