💲Ethereum Falls Into A Support Zone💲

💲Ethereum Falls Into A Support Zone

💲Ethereum is following in the footsteps of Bitcoin, which I have also written about, but here the declines compared to previous candles are much larger.

💲Looking at where we are on the chart I get the impression that a drop to the vicinity of the support zone seems very likely.

💲This was determined by the 0.786 level of the entire wave from the bottom to the top of the upward correction.

💲This is a key price level, and on many occasions the price has reacted at this level.

💲I determined the resistance zone based on the 0.618 level of the same wave as the support zone.

💲Looking at the technical environment, the fact that we are under the 50 and 200 moving averages, the MACD and RSI are generating upward signals. I have no doubt about the higher probability of declines at this point on the chart.

💲The scenario I am playing out is a continuation of the declines to the vicinity of the support zone. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

💲*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

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