Enter your emailIs this a very pretty looking chart? Of course not, but we are so oversold at this point that a bounce does make quite a bit of sense.
As I record this video, the market is currently sitting at the $3072.30 level, showing that we did in fact bounce rather hard from that psychologically important $3000 level.That being said, this has been a brutal selloff and quite frankly we need to see some type of follow-through to the upside, something that we have not seen yet.
Quite frankly, Ethereum is a market that has a bright future, so despite the fact that we have seen such a nasty selloff, a lot of this is from external pressures, and therefore the underlying story is still very much the same. I would also point out that there is a major cluster sitting right around the $3000 level that offered significant support during the month of September 2021, and so far, it does seem as if it is trying to hold.
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