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Moonrock Capital founder: If ETH can retrace to the $4000 to $4100 range and rebound strongly, it will be a typical bullish signal.
PANews August 18 news, Simon Dedic, founder of blockchain consulting and investment company Moonrock Capital, tweeted that the recent 10% pullback of Ether from its peak is a healthy adjustment. He pointed out that Ethereum has achieved a 3-fold rise in the past three months, and if it tests the $4000-4100 range and rebounds strongly, it will be a typical bullish confirmation.
He emphasized that the more frequently Bitcoin, Ethereum, and other crypto assets change hands during the rise, the more sustainable the upward trend will be. Dedic urged investors not to lose confidence due to minor fluctuations and firmly believes that the market is still in a bullish phase.
ETH-6.2%