In overbought conditions Ethereum has reached a very important resistance. It reached back as far as mid March. This level has been support and resistance several times and was the upper and lower border of trading ranges since. It will be hard for the krypto to overcome this level easily.
This support reaches back until March 2020 where it has been the low so far. Despite the 2 years substantial fall there is still a long term uptrend. And the support gives the market the chance to recover and make some retracements of the fall.
Nothing special here but AMAT is struggling the fifth day with the current level. Of course this may be a consolidation level. Therefore a bet on an upward correction must be combined with a tight stop.
The price seems to hold within the trading range that lays above the MA. This confirms it as the coming bottom. The idea is also supported by Fibonacci. By its rules we have just retraced the September low and may seek an upward correction now.
In August and at 4th October the present level has been the low. It is a confirmed bottom now that we have reached now again. The Hammer can be seen as another confirmation. Thus it is more likely that the bottom will hold and we may see a retracement in the next days.
The end September low has just held. Due to the steep decline last days I can imagine an attempt to test the highs of past week again.
On Friday 13th a window had been opened that has been closed now. The window was an outbreak of the trading range since 6th October. The upside of the range serves as a support now. I expect an upward correction from here therefore. If the overall market will retrace upward we may even see a further rise. Mind that United Health has behaved better than the market...
On Friday we have risen above the MA which became the current support now. After a short downward correction we have recovered already what is confirming the support. After today's Hanging Man we failed to test the support again. I take this together as a bottom for a coming spike up.
Yesterday we had opened with a gap up. This window has been closed today what opens the way up again. Mind that we are holding above the MA that serves as a support here.
2 days ago we have overcome the short term trading range. This has been confirmed yesterday. Now this outbreak has been retraced by Fibonacci rules.. The promise of the outbreak may be realized now. The MA and the bottom of the trading range left are supportive.
We have reached a multiply confirmed support zone now. It comes from March and has been renewed in the beginning of May. As is has been confirmed, broken and confirmed again multiple times I assume that this may continue for a while. Thus I expect a rise next to test the August-October high once more at least.
BAND has risen sharply today but has reached a hidden resistance now. Thus I am expecting a correction downwards before it perhaps may rise again. Mind that we are within a bearish trend and we have not fallen through the previous low to trigger stoplosses.
It is a little bit difficult to describe what I see. 2 different VWAPs(a rising and a having turned downward) indicate a bottom and on Friday we have re-entered a 3rd VWAP which is following the downtrend since 15th September. In my opinion this says that we shall test the upper lines of the price band. I know that this seems to be a bit strange but due to my...
In the latest days we have seen 3 corrections, i.e. waves. First we've corrected the rise from 24920 to 27486 from 19th to 24th September. This week we've retraced this correction till yesterday. And intraday today we've seen a decline that is the perfect retracement of this week's advance. This all looks bullish to me. The latest substantial move was upwards...
We have reached a support zone at the opening today. The price is struggling here and in my opinion it may find the power for a correction. The level has been a bottom since May and on May 5th the price had jumped up and out of a window. Since then the Apple has never fallen below it. Whether it will do so this time we will see. But before I can imagine that the...
We have fallen through the trading range prevailing since 12th September. As we are in a downtrend since 7th August it can be seen as a continuation of this trend.
The current level can be seen as a bottom. There is no sharp level but the open March window has never been closed until today. It has been tested several times so that we may assume that there is kind of a zone supporting this level. I expect a corrective rise from here the more that the sentiment has turned bearish and many dealers are sitting at short positions...
We are seeing an upward correction and have reached the MA and the top from 2 days ago again. The momentum is declining. That's clear - it is a correction. But as we are in a downtrend since August the preferred direction remains downward.