ETH has a bearish weekend impulse and the asset may be in need for some correction.
Also something to note is that July 18th (pushed up & through resistance) and July 25th 2022 (level of support bounced and pushed back up)
the 1330 area. I see the correction potentially going up to 1470 and the next bullish area being 1575 (although I don't see price going here).
1475 was once a support level and will now be resistance. IF price reaches here and holds, ETH will continue to drop potentially coming down to 1080.
It is important to be aware of major structure set up but use minor structure (15 mins) for execution. Mind your SLs as well. Check for breaks in highs or lows to support the bias in the chart.
Potential BS -
Entry - 1380
TP - 1440
SL - 1355
Potential SS- ( after some correction)
Entry - 1340
TP 1 - 1275
TP 2 - 1200
SL - 1365
Also something to note is that July 18th (pushed up & through resistance) and July 25th 2022 (level of support bounced and pushed back up)
the 1330 area. I see the correction potentially going up to 1470 and the next bullish area being 1575 (although I don't see price going here).
1475 was once a support level and will now be resistance. IF price reaches here and holds, ETH will continue to drop potentially coming down to 1080.
It is important to be aware of major structure set up but use minor structure (15 mins) for execution. Mind your SLs as well. Check for breaks in highs or lows to support the bias in the chart.
Potential BS -
Entry - 1380
TP - 1440
SL - 1355
Potential SS- ( after some correction)
Entry - 1340
TP 1 - 1275
TP 2 - 1200
SL - 1365