What Is Actually Going On With Ethereum? Critical Support.
Hey, I am back with another chart/Idea.
This time looking at Ethereum.
Ok, straight to the point. Last time 5.- 6. february we were fighting with support, luckily ETH bounced right off the 100MA that just made the support stronger. This time, we are looking at Ethereum at critical support line.
Ok so what now?
GREEN.
Yeah, so today´s candle is really important. If, the candle lock the price, as is it now, (above 685) it will be very good, it would mean that we are holding on the support, then we will touch the top of downtrend channel back to support and we will smash trough the channel moving into upwards channel!
And what If not?
Well, there 2 another possibilities.
BLUE.
First is we will fall and hold for a while on 200 MA and bounce back to previous support, even to higher ressitance point, the higher the fall, the bigger price movement upwards.
RED.
Another, and lets not even think about this, but yeah, its a option still. If we wont bounce from 200MA and close the candle under the Line, we will propably be downtrending..
I hope my analysis have helped you clear your mind about what is actually going on with Ethereum.
If you find my analysis usefull, let me know in comments bellow or leave a like.
Thanks!
This time looking at Ethereum.
Ok, straight to the point. Last time 5.- 6. february we were fighting with support, luckily ETH bounced right off the 100MA that just made the support stronger. This time, we are looking at Ethereum at critical support line.
Ok so what now?
GREEN.
Yeah, so today´s candle is really important. If, the candle lock the price, as is it now, (above 685) it will be very good, it would mean that we are holding on the support, then we will touch the top of downtrend channel back to support and we will smash trough the channel moving into upwards channel!
And what If not?
Well, there 2 another possibilities.
BLUE.
First is we will fall and hold for a while on 200 MA and bounce back to previous support, even to higher ressitance point, the higher the fall, the bigger price movement upwards.
RED.
Another, and lets not even think about this, but yeah, its a option still. If we wont bounce from 200MA and close the candle under the Line, we will propably be downtrending..
I hope my analysis have helped you clear your mind about what is actually going on with Ethereum.
If you find my analysis usefull, let me know in comments bellow or leave a like.
Thanks!
Comment:
Looks good!
Comment:
confirmed.