IMPORTANT POINTS:
- First recommended buy point on Ethereum is $3,000, coinciding with the 200-day moving average.
- Second buy point is 2,750 USD, offering an additional buying opportunity.
- Third buy point is $2,400, considered the last significant buying opportunity.
Daniel Muvdi, a renowned technical analyst, has provided a detailed analysis on the optimal buying points for Ethereum (ETH), especially in the context of a possible correction in the price of Bitcoin. Below are his key observations and recommendations.
Muvdi suggests that in the event of a significant correction in Bitcoin, the price of Ethereum could drop to around $3,000. This level is considered a good point of purchaseas it coincides with the 200-day moving average on daily charts.
The 200-day moving average is a crucial technical indicator that many investors use to identify support and resistance zones.
Purchase strategy
In the event that Ethereum continues its decline beyond $3,000, Muvdi identifies the $2,750 as the next viable buy point. This level offers an additional opportunity for those investors who want to expand their Ethereum positions at lower prices. It is important to be prepared to buy at various stages during a market correction.
Finally, Muvdi points to 2,400 USD as the last significant purchase level. This price represents an attractive opportunity to acquire Ethereum at a significantly reduced cost. Investors should consider this level as a last line of defense in their buying strategy.
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