Ethereum Simple Chart Analyze / 4 Hours / Coinbase
Ethereum Simple Chart Analyze / 4 Hours / Coin Base
Ethereum was in symmetric triangle pattern on 4 Hours Chart. However, it broke descending upper trend line on Mar 17, 2022.
- 2748 Second Support & Resistance Level
Ethereum is moving sideways around 2785 to 2747. This support & Resistance level is more likely to be accurate. Because it already made from May, June, Sep 2021. It was resistance on May and June, but It was support level on Sep. As following this level, if Ethereum prices keep over this price level, and break the last highest points that 2790, it will be possible to become more like green pattern. Therefore, 2805~2820 would be great prices to enter for long-position. However, it might hard to go up to Sell Wall zone at once unless Bitcoin prices increase rapidly, so it might get retest when it reached the last highest price 3040. So, it would be great to stop long-position and just watch how chart moves. It is risk to change to short position on that prices because it is hard to predict how much go down unless it touch second support again.
- Descending Upper Trend Line
If it breaks second support level, it is possible to move down to descending upper trend line of around 2670 to 2700. It will rebound from there, unless bitcoin move down strongly. It might be a good chance to play on short position until it get close to this line. When it rebound, it means that Ethereum doesn't want to re-enter triangle pattern and it will re-try to break second resistance level to become like red pattern. So, around 2680 ~ 2700 would be great price to enter for long-position.
- 2510 First Support & Strong Buy Wall
If Ethereum re-enter to triangle pattern, it will move down to first support level and move sideways to edge of triangle to become like purple pattern. Therefore, I don't suggest to play on margin trading unless it breaks descending upper trend line. Under 2500, there are strong buy wall and it will be hard to break unless Bitcoin prices move down strongly. So, it would be great place to buy for spot trading, and wait for margin trade until it breaks triangle pattern again.
- 3170 Resistance Level & Strong Sell Wall
If Ethereum reached 3170, Ethereum will get retest there are strong sell wall. Proof for sell wall, Aug, 21, Jan, Feb 22, we can see prices moved sideways, or get retest when Ethereum reached this price on these months. It will be hard to break this price at once. So, it would be great to stop long or sell half of long-position.
made by Jung Moo Eric Han
Ethereum was in symmetric triangle pattern on 4 Hours Chart. However, it broke descending upper trend line on Mar 17, 2022.
- 2748 Second Support & Resistance Level
Ethereum is moving sideways around 2785 to 2747. This support & Resistance level is more likely to be accurate. Because it already made from May, June, Sep 2021. It was resistance on May and June, but It was support level on Sep. As following this level, if Ethereum prices keep over this price level, and break the last highest points that 2790, it will be possible to become more like green pattern. Therefore, 2805~2820 would be great prices to enter for long-position. However, it might hard to go up to Sell Wall zone at once unless Bitcoin prices increase rapidly, so it might get retest when it reached the last highest price 3040. So, it would be great to stop long-position and just watch how chart moves. It is risk to change to short position on that prices because it is hard to predict how much go down unless it touch second support again.
- Descending Upper Trend Line
If it breaks second support level, it is possible to move down to descending upper trend line of around 2670 to 2700. It will rebound from there, unless bitcoin move down strongly. It might be a good chance to play on short position until it get close to this line. When it rebound, it means that Ethereum doesn't want to re-enter triangle pattern and it will re-try to break second resistance level to become like red pattern. So, around 2680 ~ 2700 would be great price to enter for long-position.
- 2510 First Support & Strong Buy Wall
If Ethereum re-enter to triangle pattern, it will move down to first support level and move sideways to edge of triangle to become like purple pattern. Therefore, I don't suggest to play on margin trading unless it breaks descending upper trend line. Under 2500, there are strong buy wall and it will be hard to break unless Bitcoin prices move down strongly. So, it would be great place to buy for spot trading, and wait for margin trade until it breaks triangle pattern again.
- 3170 Resistance Level & Strong Sell Wall
If Ethereum reached 3170, Ethereum will get retest there are strong sell wall. Proof for sell wall, Aug, 21, Jan, Feb 22, we can see prices moved sideways, or get retest when Ethereum reached this price on these months. It will be hard to break this price at once. So, it would be great to stop long or sell half of long-position.
made by Jung Moo Eric Han
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.