Ethereum got hammered during the selloff and lost over 25% of its value. But it has since recovered nicely, about a 50% retracement, back to $1700 exactly at the time of this writing. We could see more fallout however, if our correction is not complete. If that is the case, we could go back to the $1300's. It is more likely that ETH will range a bit and feel out the range between $1820 and $1547 for a bit longer before testing highs again. This is a common sideways corrective pattern for cryptos after they have had a huge bull run. Use this time to accumulate on dips.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.