ETHEREUM (ETH/USD) - Technically a Good Area ~$200
Firstly, the BTC has to start a downwards correction and secondly, the ETH Daily candle has to close below the black trendline which will be a confirmation for further movements downwards.
At the moment, yesterday's candle made a breakout from the bearish chart pattern called Rising Wedge (thin dotted lines, pulled from the bodies) and this could be the first step down but consider those points above!
The bounce area criteria:
- Multiple Fibonacci levels
- EMA 100 & 200
- Previously worked support&resistance level
- The round number $200
- The trendline
-* 2x Monthly highs and lows in the marked box are tiny indications which makes this area just a little bit stronger
Feel free to support my effort by hitting the "LIKE", it is my only fee from You and it means a lot to me!
Best regards!
At the moment, yesterday's candle made a breakout from the bearish chart pattern called Rising Wedge (thin dotted lines, pulled from the bodies) and this could be the first step down but consider those points above!
The bounce area criteria:
- Multiple Fibonacci levels
- EMA 100 & 200
- Previously worked support&resistance level
- The round number $200
- The trendline
-* 2x Monthly highs and lows in the marked box are tiny indications which makes this area just a little bit stronger
Feel free to support my effort by hitting the "LIKE", it is my only fee from You and it means a lot to me!
Best regards!
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