Hoping that ETH will respect the bottom trend line of the channel it has been moving in for some time now. If we see it respected again we may see a bounce here to head back up to the top of the channel.
Aside from the big push and pull back into the channel, ETH has been forming an upwards channel of higher highs and higher lows. A bounce off the bottom trend line would mean a new higher low has been created and would confirm market structure and upwards direction.
A break of the bottom channel line would see ETH head down further to test the weekly long term uptrend line.
Keeping a close eye on this trade!
Aside from the big push and pull back into the channel, ETH has been forming an upwards channel of higher highs and higher lows. A bounce off the bottom trend line would mean a new higher low has been created and would confirm market structure and upwards direction.
A break of the bottom channel line would see ETH head down further to test the weekly long term uptrend line.
Keeping a close eye on this trade!