Etherium buying opportunity. Set your buy orders accordingly
Hello All. Looking at ethusd pair on the daily timeframe we see that we just broke below the descending line of support which sat around $2500.
The etherium price is back inside the descending channel yet again, and has a potential drop target at around $1500.
Despite the bearish market sentiment, I believe that etherium can find very strong support at $1700. This is the price where I would personally set my buy order and wait for it to get filled.
The $1700 level is a key support level and is indicated in this chart with the dotted horizontal white line. I recommend setting buy orders at $1500(bottom of the descending channel) -$1700 (major resistance line). This is another 36% drop from the current price.
Thanks for reading, and stay tuned. Enjoy.
The etherium price is back inside the descending channel yet again, and has a potential drop target at around $1500.
Despite the bearish market sentiment, I believe that etherium can find very strong support at $1700. This is the price where I would personally set my buy order and wait for it to get filled.
The $1700 level is a key support level and is indicated in this chart with the dotted horizontal white line. I recommend setting buy orders at $1500(bottom of the descending channel) -$1700 (major resistance line). This is another 36% drop from the current price.
Thanks for reading, and stay tuned. Enjoy.