Big days ahead for ETH - what to expect ?
Hi guys,
Just as predicted, ETH moved up to $240+ (242-243) yesterday but hit the local diagonal resistance, which did not allow a further increase in price due to almost immediate rejection around $245.
The horizontal level at $245 was giving bulls problems already in the near past. After some sideways trading however it was able to break it in the 07-10 June period. I expect the same reaction now, but the perfect case scenario will be to use the upper end of the downtrend corridor as a support and also not to allow a drop below $240.
If we go to a daily chart (main chart in this idea), on the other hand, things are a little worse - it is notable that the mid-term downtrend is acting as a solid resistance around the mentioned $245 line. If we are denied here, then I will suggest shorting down to $235.
Regards,
Just as predicted, ETH moved up to $240+ (242-243) yesterday but hit the local diagonal resistance, which did not allow a further increase in price due to almost immediate rejection around $245.
The horizontal level at $245 was giving bulls problems already in the near past. After some sideways trading however it was able to break it in the 07-10 June period. I expect the same reaction now, but the perfect case scenario will be to use the upper end of the downtrend corridor as a support and also not to allow a drop below $240.
If we go to a daily chart (main chart in this idea), on the other hand, things are a little worse - it is notable that the mid-term downtrend is acting as a solid resistance around the mentioned $245 line. If we are denied here, then I will suggest shorting down to $235.
Regards,
Yorum:
Alright, here just like in BTC< bearish scenario came true with ETH testing $230 after being rejected at the indicator cluster area - horizontal and mid-term downtrend diagonal resistances. Good buy zone in my opinion, but not with too much volume
