CRITICAL DAY FOR ETH
ETH DOWN TODAY, BUT THAT'S NOT NEWS, what's important is that it is probably testing a major support around 220, this point stopped the blood-bath on June 26th's sell-off.
Looking at the 1 hour chart, we can see how that 220's level is that important, is not just a weekly support but a 61.80% fib retracement for the long term.
That's why there are probably a bunch of buyers waiting to hold on to that price, but if the bears are trong enough to break that support, well it might be a massive sell off again all the way down to 180 first with an intermediate support and later to 160.
The bulls hold in 220 and we can start expecting a reverse in the trend soon.
@edriguezc11 great analysis!!
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