Well we all know that what comes up must come back down. But is it the time for eth to re-test its support? Maybe not just yet!
Over the past couple days we've seen the 3rd and the 4th arc pair used as a pretty good support for the eth price (although the 4th arc pair was easily broken by today's dip it then stabilised over the arc pair).
The 5th arc pair pushed the price down twice already so we might be looking at a reversal here. Yet all SMAs are still bullish (even if they've weakened significantly today) so can the ichimoku cloud keeps us optimistic?
Regarding all these insights I'd say the 5th arc pair shouldn't be broken anytime soon, at least not before the 18th of March at noon (London's time).
Price might stabilise and find its support on the 2x1 gann fan but the first candle that will close above the 5th arc should lead the way... well bulls, let's hope it's a green one (and let's hope the SMAs won't be exhausted by then as well ;))!
I usually publish more of BTC charts but if / when you have some questions you can MP me and I'll give you my point of view (which is obviously not to be taken for a prediction at all of course ;)).
Happy trading,
JackV.DerSchlesien
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And si right you were! Wish i would see this chart before buying on 50.