Hi Traders,
We have here an ETHUSDT chart analysis. We begin by taking a look at the weekly timeframe where we are able to see key levels of supply and demand. The price consolidated between support ($81) and resistance ($309) where it later broke up through the resistance creating a new year all time high ($500) for it to then retrace to our past resistance at ($309).
More recently, we have seen price test this yearly high with volume and accumulation, confirming that it is now support. We have the 0.382 Fib which seems to not have much supply coming into the market which leads to think that it may push to the next level of resistance at $790 which is also the 0.5 Fib.
Thanks
The Market Sniper Team
We have here an ETHUSDT chart analysis. We begin by taking a look at the weekly timeframe where we are able to see key levels of supply and demand. The price consolidated between support ($81) and resistance ($309) where it later broke up through the resistance creating a new year all time high ($500) for it to then retrace to our past resistance at ($309).
More recently, we have seen price test this yearly high with volume and accumulation, confirming that it is now support. We have the 0.382 Fib which seems to not have much supply coming into the market which leads to think that it may push to the next level of resistance at $790 which is also the 0.5 Fib.
Thanks
The Market Sniper Team
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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.