Hi everyone
Ethereum price is still moving into descending channel and as you can see
on the chart below, price test the top line of our channel but couldn't break
it upward. so it rejected.
if we want to see a bull trend, price needs to break our channel upward and close
above the key resistant level 4200$.
if not bears have more chance to take the control so target around 3600 is expected.
this could be the last try for bears before new bull trend start.
Enjoy the market
Ethereum price is still moving into descending channel and as you can see
on the chart below, price test the top line of our channel but couldn't break
it upward. so it rejected.
if we want to see a bull trend, price needs to break our channel upward and close
above the key resistant level 4200$.
if not bears have more chance to take the control so target around 3600 is expected.
this could be the last try for bears before new bull trend start.
Enjoy the market
Trade active
price exactly bounced back from 3600 support level as expected but as long as the price move below 4200 resistant level bears have the main roleTrade active
strong possible we see one of this two scenario happen in next hours coming. first can bounce from our weekly trend line or can drop to 3600$ level again then bounce upward. lets seeand
HAPPY NEW YEAR
Related publications
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.
Related publications
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.