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kyer
Oct 11, 2020 5:10 AM

$ETH Bounce Off $334 Support Long

Ethereum / U. S. DollarKraken

Description

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Ethereum has held $334 support (best buy-in level) 4 times now since the September 1st drop.

Perfect bounce off of the $334 level to hit $353 & $369 TP's, This $369 level no longer acts as a resistance, it is a newly found support level. $369 is a very strong level and the close above it has turned the tables for a nice long.

The fact that Ethereum is holding above $369 without getting as much as a body of the candle close below it tells me that it's looking bullish.

🎯 TP1 @ $385
🎯 TP2 @ $400
🎯 TP3 @ $416

The chances of a pullback to sub-$300 levels are very low now and continue lowering.

This is clearly trending up now, don't bet against the trend.

Trade active

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TP1 🎯 hit
Comments
Gaengphed
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Looks like the past weeks have been a Wyckoff Accumulation period, what do you think? If so and we're escaping it...it's time to Fibo 4 life ;-)
kyer
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@Gaengphed A close over $385 would send ETH past $400 again
kyer
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Yeah can call it capitulation as well
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