Using the Fib Retracement tool on the Ethereum charts gives us a good perspective on the meaning price points and reactions.
In the following representation , we have a slow breakout scenario with a market finding continuous support and weak bearish energies.
Currently we are support by the previous trending resistance line and finding heavy resistance at $230 which seems to be our next target if the support line won't break.
$230 is also 0.236 pattern line with meaningful previous movements and radical activity.
Feel to check out my profile for other educational content and private coaching.
Thank you
Scrembo
In the following representation , we have a slow breakout scenario with a market finding continuous support and weak bearish energies.
Currently we are support by the previous trending resistance line and finding heavy resistance at $230 which seems to be our next target if the support line won't break.
$230 is also 0.236 pattern line with meaningful previous movements and radical activity.
Feel to check out my profile for other educational content and private coaching.
Thank you
Scrembo
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.