#ETHUSDT is BULLISH Above this level. Don't FOMO!!
Welcome to this extensive analysis of Etherium.
If you are reading my updates for the first time, make sure you follow me if you want the most complex charts
Explained in the most simplified manner.
I also post margin and futures trade setups.
Now, let’s get to the chart.
ETH broke all the support like BTC and made a low of $2300.
In our last trade, we got stopped out at $2920.
Currently, ETH is entering the resistance cluster. Once we break above the $2885 area it is highly likely that we will see some rallies further above the 3k zone.
SO $2885 or we can simply say that the price needs to break and close above the blue MA along with the falling expanding channel.
CONCLUSION:- ETH needs to break and close above both the channel and the blue MA in order to enter a new rally until then it is hitting resistance.
Also, the pattern is bullish with buy-side momentum increasing throughout the market, which is a good sign.
Let's just wait for this confirmation.,
ETH is a long above $2900 with SL below $2682
Invalidation:- Daily close below $2682
What do you think of this chart?
Do share your views in the comment section and do not forget to hit the like button.
Thank you
#PEACE
If you are reading my updates for the first time, make sure you follow me if you want the most complex charts
Explained in the most simplified manner.
I also post margin and futures trade setups.
Now, let’s get to the chart.
ETH broke all the support like BTC and made a low of $2300.
In our last trade, we got stopped out at $2920.
Currently, ETH is entering the resistance cluster. Once we break above the $2885 area it is highly likely that we will see some rallies further above the 3k zone.
SO $2885 or we can simply say that the price needs to break and close above the blue MA along with the falling expanding channel.
CONCLUSION:- ETH needs to break and close above both the channel and the blue MA in order to enter a new rally until then it is hitting resistance.
Also, the pattern is bullish with buy-side momentum increasing throughout the market, which is a good sign.
Let's just wait for this confirmation.,
ETH is a long above $2900 with SL below $2682
Invalidation:- Daily close below $2682
What do you think of this chart?
Do share your views in the comment section and do not forget to hit the like button.
Thank you
#PEACE
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