Hello folks,
Welcome to this another important update on ETH in 4 hours timeframe.
Thank you for being so supportive. It’s an honor to serve you guys with quality content.
Ethereum is still under the channel and above the support level but it is failing to break the upper trendline. The dotted line shows a trendline formed under a trendline which is currently acting as a support for ETH. A breakdown below this channel will form a bearish scenario for ETH. A continuous fall can possibly drop the price up to $2590.
Now, let's look at the bullish side as well. In order to stay bullish, ETH must hold the support and break above the channel as well as the $3600 resistance level.
If you are looking for a trade opportunity then it's better to wait for confirmation. I will open my long trade setup only if ETH breaks the resistance level, and I will open my short only if ETH breaks the support levels.
What do you think about the ETH price move?
Do you think ETH will reach its ATH?
OR
Do you think ETH will bleed badly?
Do hit the like button and share your views.
Every single likes and comment are highly appreciated and it motivates me to post more quality updates.
See you guys soon with a new update.
Welcome to this another important update on ETH in 4 hours timeframe.
Thank you for being so supportive. It’s an honor to serve you guys with quality content.
Ethereum is still under the channel and above the support level but it is failing to break the upper trendline. The dotted line shows a trendline formed under a trendline which is currently acting as a support for ETH. A breakdown below this channel will form a bearish scenario for ETH. A continuous fall can possibly drop the price up to $2590.
Now, let's look at the bullish side as well. In order to stay bullish, ETH must hold the support and break above the channel as well as the $3600 resistance level.
If you are looking for a trade opportunity then it's better to wait for confirmation. I will open my long trade setup only if ETH breaks the resistance level, and I will open my short only if ETH breaks the support levels.
What do you think about the ETH price move?
Do you think ETH will reach its ATH?
OR
Do you think ETH will bleed badly?
Do hit the like button and share your views.
Every single likes and comment are highly appreciated and it motivates me to post more quality updates.
See you guys soon with a new update.
ETH quick update:
So ETH broke out above the trendline. But it is not the confirmation yet. ETH is still struggling to break above the resistance level. Once it breaks the resistance, retest, and then bounce back, that will be a perfect confirmation to go long on ETH.
Keep a close eye on the resistance level. If anyone is already in ETH then watch out for the support levels.