ETHBTC - no major resistance ahead
Hello all,
The ETHBTC pair performing quite well recently and is without a doubt the most important chart in crypto when it comes to altcoins performance.
What I notice looking at the Weekly chart (below) is that the 0.35-0.37 zone was the critical one to surpass to initiate a bullish reversal. The solid resistance zone was also where the 21-day EMA was situated and as we know this indicator is of critical importance for the market cycle, especially in crypto where it has perfectly marked the beginning and end of bull and bear markets.
The next zone of interest for traders will be the one around 0.57, which as visible on the chart, has always been a tough line to surpass. This first target is at 14 percent distance from the current price.
Second target will be - 0.73 at 44 percent distance.
Goin back to the 1-day chart we will be looking for support around the last visited high at 0.45-0.47 (in combination with the uptrend diagonal) and then the already mentioned 0.35-0.37 zone.
Regards,
The ETHBTC pair performing quite well recently and is without a doubt the most important chart in crypto when it comes to altcoins performance.
What I notice looking at the Weekly chart (below) is that the 0.35-0.37 zone was the critical one to surpass to initiate a bullish reversal. The solid resistance zone was also where the 21-day EMA was situated and as we know this indicator is of critical importance for the market cycle, especially in crypto where it has perfectly marked the beginning and end of bull and bear markets.
The next zone of interest for traders will be the one around 0.57, which as visible on the chart, has always been a tough line to surpass. This first target is at 14 percent distance from the current price.
Second target will be - 0.73 at 44 percent distance.
Goin back to the 1-day chart we will be looking for support around the last visited high at 0.45-0.47 (in combination with the uptrend diagonal) and then the already mentioned 0.35-0.37 zone.
Regards,
Trade closed: target reached:
Target reached