With bitcoin price now is on the correction, ethereum follow to go down and adjust the price, but the price is still at $300. But we don't know if the price can stay at that price or not and if the price is going down for more, you can prepare to place your target price to buy ethereum. Ethereum will have more chance to increase and break the last high price yesterday. It seems, the market still on the bullish trend but it has a little correction for the price.
There will be a correction that will happen in terms of price of the ETH for sure because the general market is also correcting and most of the cryptocurrencies are only mirroring it. After the correction of the ETH, for sure it will create a new support where the demand is really high. This can be a good opportunity especially for the swing traders because buying at the support and selling at the resistance is their edge in the market.
I think the correction for both bitcoin and ethereum already happens, and as we can see now, the price is going down to the low price. The market tends to wait for more supports in the buy order so the price can back to increase once more. The demand to buy ethereum still in high, and I think the trader still trying to accumulate more ethereum while the price is adjusted to the low price. Some trader uses this chance to buy and sell ethereum to make more profit.
With bitcoin price now is on the correction, ethereum follow to go down and adjust the price, but the price is still at $300. But we don't know if the price can stay at that price or not and if the price is going down for more, you can prepare to place your target price to buy ethereum. Ethereum will have more chance to increase and break the last high price yesterday. It seems, the market still on the bullish trend but it has a little correction for the price.
The correction of ETH might not pull down its price below $300. The overall market looks very bullish to me. This is not to say that all we are going to see are long green candles coming one after another. This means that there will be high increases followed by corrections just the same, but the correction might not be that deep and another rally will take over right afterwards.
I hope so. If there are many back-ups for ethereum, that can hold the price not to go down below $300. That can give a chance to bounce to the high price. The green candle will come again after the red candle, and I think that will always happen like that in the market. So we need to analyze more to find a good time to buy and sell.