showed strength as it spiked from around $ 18,500 on September 7, but he believes it could drop back to the $ 20k region before continuing to rise.
“Looks pretty solid. A close above $ 20,700 will confirm the recovery. Might retest the $ 20k zone to make a higher bottom before continuing to rise.”
"ETH bounced around 20% from the support zone and close to reaching my upside target. Again, look for a continuation up to $ 1,800 – $ 1,900 – expect a rejection here and a new local bottom is likely after that. Most people don't want to hear this, but it's possible."
At the time of writing, ETH is being traded at $ 1,712, unchanged on the day.