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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 the blockchain consulting and investment company Moonrock Capital, tweeted that the recent 10% pullback of Ethereum from its high is a healthy adjustment. He pointed out that Ethereum has achieved a 3-fold rise over the past three months, and currently, if it retraces to 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 a rise, the more sustainable the upward trend will be. Dedic urged investors not to lose confidence due to small fluctuations and firmly believes that the market is still in a bullish phase.