BINANCE:ETHUSD is trading within the boundaries of the 2383 and 2136 range, but at the same time the price continues to test 2300, which plays an important role in the medium-term perspective
On the high timeframe we see consolidation after breaking the resistance of the ascending channel. Consolidation is formed at the intersection of the strong 2300 level and the resistance of the ascending channel, which can be interpreted as a period of struggle between market participants. The bears are trying to hold the 2300 resistance area, while the buyers (bulls) continue to actively test this zone for a breakout, as the ethereum fundamentals look much more promising for buyers. Moving averages indicate strong accumulation, price consolidation near a strong resistance level indicates a fairly strong bullish potential.
Resistance levels: 2300, 2383, 2447 Support levels: 2200, 2136
The price is likely to continue testing 2300 as the market is in a bullish trend. Consolidation at some point will lead to distribution, this trigger could be price consolidation above this level.
Regards R. Linda!
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Great realization :) False level breakdown and growth to the target literally in one day.