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RLinda ! RENUSDT-> Will there be a resistance breakthrough? RENUSDT against the background of the correcting cryptocurrency market looks quite confident and, presumably, is preparing to break through resistance The price forms the third retest in a row against the descending resistance line, forming a bearish wedge. A pattern that can form a strong bullish impulse in the medium term and even change the trend. There is a high probability of price exiting the range (consolidation) and further growth. In the medium term I expect breakthrough of resistance and consolidation of the price above the level of 0.1212 with further bullish impulse formation to 0.2000, 0.246, and in the long term to 0.4226. Regards R. Linda!
Long
by RLinda
13
ETHUSD my outlookETHUSDT OUTLOOK daily On the daily chart although we have seen price creeping up from June lows of 880 area we still have not retraced back to above 50% from swing high of 3500 level. Although the intermediate price structure is bullish the last bearish swing is still intact. Based on the chart I could see one supply area around 2.3k 2.9k area. 3.5k is my swing supply zone. short term support im lookng at 1490 1266 and 993. Im expecting possible price reaction at these levels. Overall the intermediate structure looks great but im not saying that im bullish yet on ETH. I would probably change medium term outlook if it breaks the 50% fib level and recheck the charts again but unless the daily swing high has not been broken I would remain cautious in saying bullish. We could probably look for possible short term scalp buys WITH CONFIRMATION ON LTF. Be careful not to be trapped on those zones and getting in early. Wait for confirmations. 4h short term structure
BYBIT:ETHUSD.PShort
by Junmadayag