#ETH/USDT 1DAY UPDATE BY CRYPTOSANDERS
Hello, welcome to this ETH/USDT 1 DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS :
Ethereum (ETH):-After a very volatile week, Ethereum has managed to remain within its existing channel, closing the past seven days with a 1.4% loss. ETH found good support at $1,250 despite a long wick that violated this level briefly on Thursday. The resistance remains at $1,400.
The price appears to be taking its time before an attempt to break away from this long consolidation period that started in late September. Today’s daily candle is a bullish engulfing one which signals that buyers may attempt to retest the key resistance soon.
Looking ahead, ETH may continue to bounce between the key levels in its current channel. A clean breakout from one of these levels would change the current trend that has kept the price in a sideways movement. This equilibrium in market forces is atypical for Ethereum, and once that changes, the volatility will increase.
Sorry for my English it is not my native language.
Hit the like button if you like it and share your charts in the comments section.
Thank you
I have tried my best to bring the best possible outcome to this chart.
Show some support do hit the like button, follow and comment in the comment section. this motivates me to bring this kind of chart analysis on regular basis.
CHART ANALYSIS :
Ethereum (ETH):-After a very volatile week, Ethereum has managed to remain within its existing channel, closing the past seven days with a 1.4% loss. ETH found good support at $1,250 despite a long wick that violated this level briefly on Thursday. The resistance remains at $1,400.
The price appears to be taking its time before an attempt to break away from this long consolidation period that started in late September. Today’s daily candle is a bullish engulfing one which signals that buyers may attempt to retest the key resistance soon.
Looking ahead, ETH may continue to bounce between the key levels in its current channel. A clean breakout from one of these levels would change the current trend that has kept the price in a sideways movement. This equilibrium in market forces is atypical for Ethereum, and once that changes, the volatility will increase.
Sorry for my English it is not my native language.
Hit the like button if you like it and share your charts in the comments section.
Thank you
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