💲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.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
💲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.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
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