Ethereum (ETH): Looking For A Touch To 200EMA
Ethereum is looking interesting where we noticed a good bullish trend here where we have been bunching from one side to another side.
What makes it interesting this time is that near the supportive line we also have a 200EMA sitting at, which is giving additional support to the zone.
We are looking for this zone to be tested and a possible upward movement from there to happen.
Swallow Team
What makes it interesting this time is that near the supportive line we also have a 200EMA sitting at, which is giving additional support to the zone.
We are looking for this zone to be tested and a possible upward movement from there to happen.
Swallow Team
Note
On a daily timeframe, we are looking for that support zone where we had our last liquidity grab.
This zone will decide the next major zone where breaking it would mean a nice Dowwnard movement breaking all lows here but seeing the price securing this zone we will see a bounce towards the 200EMA zone!
Note
Ethereum buyers have been suppressed by sellers, where we see that yesterday's green candle has seen a rejection and now is back in the hands of sellers.
We are looking here more at Bollinger Bands, where the gap has been normalised after it was exploded wide open (thanks to the dump).
If we manage to close current daily in red with big body, we should see that touch to support zone happen this week!
Note
Ethereum is getting closer and closer to our support zone, where price has dropped so far by 9% since yesterday.
We are waiting for further movement to lower zones to happen here and once we see the price hover near that support zone, we will be looking for a price reaction to that zone!
Note
Another day and since yesterdays push, we are seeing the demand for lower zones.
Sellers are still dominating current zones and candles are not getting as healthy green bodies as they should.
Our gameplan is leaning right now more towards the further downward movement after reaching the support zone and possibly breaking it so eyes open!
Note
We are at a breakpoint with Ethereum, where the price is now at a crucial zone near that major support zone.
If we manage to break this zone, we will see a strong and steep downward movement, but if we see any kind of bounce, there is a chance of seeing a double bottom pattern here!
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