So far everything about ETH's breakout move has played pout perfectly. We had the successful reclaim of the green trendline (from all my previous ETH posts), followed by the break of the key $4k level (multi-year resistance), then the expansion move to $4,800 (our previous ATH).
Now we are seeing a cooloff from the previous ATH so what should we expect next?
The first level we are watching as a potential support level is our yellow line. This level was old resistance before breaking above to make our move to $4,800. Therefore, can this old resistance become new support? This is the first key level we are watching on this downturn ranging from about $4,260-$4,375 with the main interest around $4,315.
The next level would be our MAIN LIQUIDITY ZONE raging from $3,800-$4,100. This was our past multi year resistance that we would love to see a retest of new support. Demand at the moment for ETH seems to be pretty high, therefore buyers should find this level very appealing if we get a dip to there. The main interest level would lie between $3,850-$3,950. If just depends if whales front run this level or not.
Now we are seeing a cooloff from the previous ATH so what should we expect next?
The first level we are watching as a potential support level is our yellow line. This level was old resistance before breaking above to make our move to $4,800. Therefore, can this old resistance become new support? This is the first key level we are watching on this downturn ranging from about $4,260-$4,375 with the main interest around $4,315.
The next level would be our MAIN LIQUIDITY ZONE raging from $3,800-$4,100. This was our past multi year resistance that we would love to see a retest of new support. Demand at the moment for ETH seems to be pretty high, therefore buyers should find this level very appealing if we get a dip to there. The main interest level would lie between $3,850-$3,950. If just depends if whales front run this level or not.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.