Can ETHUSDT break its resistance at its all time high ?
As of the daily chat, in 21 November 2019 ETHUSD entered a continuous support & resistance channel at a price of $173.61. On 12 May 2021 ETHUSD reached it's first all time high at a price of $4,320.71.
Also between November and December of 2021 it reached the price greater than $4,320.71 creating new all time high $4,862.13. But these prices have created a new resistance on ETHUSD and for the first time ETHUSD has broke out on it's resistance for the first time since early 2020. Moreover, ETHUSD faces support around $2,775.43.
My Opinion:
I think ETHUSD has entered a consolidation period, hence creating a support ($2,775.43) & resistance ($4,862.13) channel. Which I think will last for 5 months.
I would love to hear your opinion in the comment section.
Happy trading!!
Also between November and December of 2021 it reached the price greater than $4,320.71 creating new all time high $4,862.13. But these prices have created a new resistance on ETHUSD and for the first time ETHUSD has broke out on it's resistance for the first time since early 2020. Moreover, ETHUSD faces support around $2,775.43.
My Opinion:
I think ETHUSD has entered a consolidation period, hence creating a support ($2,775.43) & resistance ($4,862.13) channel. Which I think will last for 5 months.
I would love to hear your opinion in the comment section.
Happy trading!!
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