$ETH How are drug addicts today?
After a long slide to $1385, ETH student, son of Ethereum, had a comeback "wasting gas" like a true crypto player:
From the bottom of the sky, ETH bounced up to $1794, despite the world outside being… about to go into chaos.
What's going on out there?
The US has just imposed a 250% tax on Chinese goods, conveniently "cutting" the remaining countries that couldn't avoid it.
The remaining countries, angry about losing the blood of tariffs, are preparing to join forces with China to provoke the US.
Russia has intensified its campaign in Ukraine, putting NATO in a difficult position: it does not want to fight but also does not dare to sit still. The EU gossips every day to figure out how to get people's money to send to Ukraine.
Wall Street's bigwigs are running around with their heads in their hands, fearing a return of global recession and trade war.
“Nothing can stop a young man on a 90-day drug binge from spending 50% of his fortune.
ETH crawled from the bottom of $1385 to $1794, breathing oxygen and screaming for "Margin to death", while Bitcoin is still confused about whether to pump or dump.
1D (1 day): Price just crossed MA(10), stuck right at the center Bollinger Band threshold.
RSI(6) is 72, wasting gas and can't breathe, warning of easy reversal. Weak volume. ETH's current "hand strength" is as weak as a student at the end of the month.
4H: MACD is hesitant to confirm the uptrend, the signal is similar to ETH "dragging the bar".
1H: Small candle, small volume => Prepare for a big head-lift or head-banging.
Trend:
If the US-China trade war escalates, the Russia-Ukraine war will erupt further:
Large capital flows will cluster into safe assets (gold, dollars), crypto will be easily sold off, and ETH will fall again.
Conversely, if Bitcoin holds up and the FED is more dovish:
ETH could make one last run to $1840-$1900 before… falling again.
“Don’t be so quick to dream about the house when you see ETH moving. It’s using drugs to waste gas, not growing by muscle.”
Who still has stock: Watch to sell from $1840 - $1900.
Who wants to buy new: Patiently wait for around $1700 or lower.
No FOMO, no margin trading while ETH is still addictive
Wear a condom when playing or you will get AIDS.
