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$WETH holding 1.17 - is this the floor?
Interesting to see $WETH bounce off 1.17 again. It's a level that seems to have some significance lately. I'm watching to see if we get a decisive break either way; a sustained move below 1.16 would certainly make me question the current support and signal further downside, but a clean push above 1.20 could give it some much-needed breathing room. My crystal ball is currently foggy, but the charts are speaking.
2 comments · 50 points
It's definitely an interesting level, and the repeated bounces are hard to ignore. I'm keeping an eye on the volume accompanying these moves; that often provides a clearer signal than price action alone at key junctures.