Ethereum (ETH): possible good bounce zone / buying opportunity
Ethereum has reached a very important zone where price has now reached the lower zone of upward trend (where also 200EMA is acting as a support).
Now ideally we should see a good bounce from here and a movement to the upper zone or at least that middle line of Bollinger bands (which is in bearish trend currently).
So we wait for a propper bounce to happen from here but bear in mind. Overall market conditions are not looking good so if everything goes against our plans, then a good downward movement will happen (if the EMA zone will be secured by sellers).
Swallow Team
Now ideally we should see a good bounce from here and a movement to the upper zone or at least that middle line of Bollinger bands (which is in bearish trend currently).
So we wait for a propper bounce to happen from here but bear in mind. Overall market conditions are not looking good so if everything goes against our plans, then a good downward movement will happen (if the EMA zone will be secured by sellers).
Swallow Team
Note
Ethereum has finally reached the support zone we’ve been watching since last week.
Now that the price is in that zone, we’re anticipating a potential bounce, which has been playing out well so far. If buyers manage to secure this area, we should see a nice recovery towards the EMAs. However, if they fail, the price could gradually break below the support, leading to a broken double bottom pattern, which typically triggers a strong downward selloff
Note
Ethereum has had a smaller bounce so far but it has not yet secured that supportive zone.
We are still keeping an eye on this zone as we are seeing some signs of weakness but if we manage to stay in current zones for the next 48–72 hours, we will see a further movement to upper zones (towards EMAs).
Note
Another day for Ethereum and we see first signs of weakness here on the daily timeframe.
Now it is early to say but there is a probability of seeing a lower support to be tested again but for that we will need to secure today's price in red so keep an eye on that daily candle now and the closing price of it as well!
Note
Ethereum is showing some signs of push here but nothing is yet confirmed.
Looking right now at the candles, we are still seeing pressure from sellers and for ETH to see any kind of bullish momentum here, buyers need to secure that dotted line (orange one).
If they manage to secure it, we will see further small upward movement, but if they do not manage to secure it, we will see a test of support and most likely a break of it as well!
Note
Ethereum buyers are struggling to maintain the current push from the lower support zone.
This is a very crucial zone for buyers, as if they do not show any dominance here we will see a failed double bottom pattern, which usually ends with a very sharp selloff near that support zone.
So we wait to see one of two things: either a huge green candle or a slow movement to support where we will be looking for a short position!
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FREE: t.me/+fiEDSn7M9pJkODA0
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