$ETH : FACING OUR MIGHTY SUPPORT INTERSECTION
HELLO AGAIN
-Ethereum today, like all altcoins, lacks the momentum necessary to rise, as it suffered from a decline in the previous days,
But the situation is not so bad, as Ethereum, which is considered the leader of altcoins, is approaching the strongest intersection of support that any currency can have.
Our mighty intersection is an intersection of:
1- The mid-line of the newly formed ascending channel of the minor bullish trend.
2- The EMA50 line that took an ascending trend.
3- The old and articulated horizontal support line.
4- The descending trend line, which happens to be the resistance line of the falling wedge, and the price has breached them previously, and today it has returned to test them.
There is also a note that the stochastic oscillator looks very BULLISH.
Look also at the shape of the volume.....it looks ACCULUMATED for sure.
It can go down to touch the intersection at 3000 levels and then bounce
-Ethereum today, like all altcoins, lacks the momentum necessary to rise, as it suffered from a decline in the previous days,
But the situation is not so bad, as Ethereum, which is considered the leader of altcoins, is approaching the strongest intersection of support that any currency can have.
Our mighty intersection is an intersection of:
1- The mid-line of the newly formed ascending channel of the minor bullish trend.
2- The EMA50 line that took an ascending trend.
3- The old and articulated horizontal support line.
4- The descending trend line, which happens to be the resistance line of the falling wedge, and the price has breached them previously, and today it has returned to test them.
There is also a note that the stochastic oscillator looks very BULLISH.
Look also at the shape of the volume.....it looks ACCULUMATED for sure.
It can go down to touch the intersection at 3000 levels and then bounce
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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.