In my last idea i said its time to do or die for eth.

Eth did it. They survive. Along with many other altcoins.

This doesnt mean we are back to the bull run!

We just survive an important event. Lunacrash.

Blue box below the chart, 1880-1800 price zone, is an important support area .

Price breakdown below yesterday but buyers stepped in around another strong support of 1679.

From there price increased %20 in 24 hours.

But i think upside potential is pretty limited.

Important resistance areas

2152
2342

Yesterday Powell said, they dont promise soft landing and they will fight inflation in every way.

We should expect more money to flee from risky assets.

I would not suprise if ETH surpass BTC in terms of market cap by the end of this decade but even most succesfull companies lose insane amount of value in the last couple of months!

Therefore we should watch before buying in. This areas can be profitable if you invest for the longer term such as 1-2 years.

But right now it is obvious risky markets didnt find their bottom.

It could take months before bottom is formed.

Important support areas

1996
1880
1800
1679
1576

If BTC break below 200 weekly ema which is around 27k , ETH price can broke below 1679 with high volume .

This can cause investor panic and high amount of sellers.

BElow 1679 there are not strong support zones.

Price can test below 1k!

It could take months or even years before we are back to bull market.

Take care!

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