Ethereum May Rally To $3k If Bulls Hold On To Long Position

The price of Ethereum (ETH) was in bad health on Tuesday, falling almost 6% to the south and breaking below $2,800. Bulls, on the other hand, were waiting to jump in and buy ETH at a steep discount. The price of Ethereum is up 2.5% in early trading and appears to be heading back to $3,018.55, recouping Tuesday’s losses. Ethereum May Recover The price of Ethereum was stung by dismal earnings from Alphabet, Wall Street’s favorite tech stock, with Youtube losing market share to Tik Tok. Investors quickly rebalanced and reevaluated the situation, eventually shrugging off the news this morning because earnings are still strong, and no substantial reports on future losses were released. As a result of the spillover fall from Alphabet’s disappointment, the price of Ethereum is ripe for the taking, trading in the ASIA PAC open at a juicy discount just below $2,800.00. Bulls swiftly snatched up pieces of the price action and are poised to recoup all of Tuesday’s losses, putting the price back to $3,018.55. From there, it’s only a short distance to $3,163.35. If earnings reflect excellent news in the coming days, predict a buy-side explosion to $3,391.52, resulting in a 20 percent profit. ETH/USD trades close to $3k. Source: TradingView With Facebook’s numbers expected to be released this evening, a turnaround is possible. Expect a huge decline in the Nasdaq, which will drive cryptocurrencies to new l...