Market Instrument: ETHUSDT
Timeframe: Daily
Analysis: Technical
Structure: Trend line, Support, and Retracement
Prediction: Bullish
Ethereum is following the price action on bitcoin where Eth lost its ATH formed close to 5k. Here I have spotted a very important price level as it seems to be very promising if the price respects the expected accordingly. This trend line and support are now approached with the current price action while if we see any reversal signs inside the circled area we will see a good run to the upside as interpreted. The following is considered respectively reading the historical moves followed by Eth price against the dollar.
Timeframe: Daily
Analysis: Technical
Structure: Trend line, Support, and Retracement
Prediction: Bullish
Ethereum is following the price action on bitcoin where Eth lost its ATH formed close to 5k. Here I have spotted a very important price level as it seems to be very promising if the price respects the expected accordingly. This trend line and support are now approached with the current price action while if we see any reversal signs inside the circled area we will see a good run to the upside as interpreted. The following is considered respectively reading the historical moves followed by Eth price against the dollar.
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.
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.