Panic Sell Ethereum or Set Buy Orders at $382?
The orange horizontal is a major level for price to flip from a 2-year bear trend into a new bull cycle.
Which means… it needs to be tested.
The recent euphoric price breakout is a sign of things to come, but markets get nervous, traders take profits, and whales like to manipulate weak hands.
The longer-term chart structure looks strong for continuations to the upside, but there will always be swings and roundabouts.
The 4-hour chart shows an 11% drop back down to that major horizontal .
Consolidating here for some days would be healthy consolidation.
Bulls will be buying barrels of Eth around $382 if price does drop back down to that point.
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