ETH - More downside coming if this breaks:
Updated
Here's a quick look at the 8 hr. ETH chart.
Upon closer analysis, it is evident that the price was unable to breach the resistance zone and experienced a sharp decline of 10% in value. This suggests that the market lacks sufficient momentum to sustain its upward trajectory, particularly in the short term. Should the price fall below the 11900 threshold, a drop to $1700 is highly probable, and should it breach $1700, a further decline to 11500 is likely.
As a result, it is advisable to closely monitor the 11900 level, as a break below it may result in substantial downward pressure. Moreover, as BTC's performance can impact that of ETH, it is prudent to observe BTC's movements before making any decisions concerning ETH.
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About our trades:
Our success rate is notably high, with 10 out of 11 posted trade setups achieving at least their first target upon a breakout price breach (The most on TW!) . Our TradingView page serves as a testament to this claim, and we invite you to verify it!
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Recent Altcoin trades:
ARB / USDT: 30% profit!
ROSE / USDT: 5% profit!
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BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
Upon closer analysis, it is evident that the price was unable to breach the resistance zone and experienced a sharp decline of 10% in value. This suggests that the market lacks sufficient momentum to sustain its upward trajectory, particularly in the short term. Should the price fall below the 11900 threshold, a drop to $1700 is highly probable, and should it breach $1700, a further decline to 11500 is likely.
As a result, it is advisable to closely monitor the 11900 level, as a break below it may result in substantial downward pressure. Moreover, as BTC's performance can impact that of ETH, it is prudent to observe BTC's movements before making any decisions concerning ETH.
-------------------------------------------
About our trades:
Our success rate is notably high, with 10 out of 11 posted trade setups achieving at least their first target upon a breakout price breach (The most on TW!) . Our TradingView page serves as a testament to this claim, and we invite you to verify it!
-------------------------------------------
Recent Altcoin trades:
ARB / USDT: 30% profit!
ROSE / USDT: 5% profit!
-------------------------------------------
If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups.
BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
Note
Broke below the downtrend! eying 1700$!
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