#Eth is looking to break below trendline support around 490 region, a break below can lead to a fall to lower support levels: 420, 400 and the 78.6fib at 340.
In Monthly time frame Eth is below 5MA,10MA (603,591), bearish MA crossover can be expected. 20MA at 360
Previously eth made a bottom around 360 level after falling hard from 1K, without much retrace, to the 78.6fib support region.
116% jump after bounce off 78.6fib support to the 50fib-20MA(green) region
Since then it has fallen over 40% till now.
In the weekly, eth is below 5,10,20 and 50 MAs and 5MA is staring at a death cross of 50MA
If ether doesn't manage to close above 540 level during re-test of the recently broken 50MA as a resistance level, then it can fall to support levels mentioned above.
However if we get a bounce off the trendline i.e 480-490 region, then a relief rally to 610-620 can be xpected.
In Monthly time frame Eth is below 5MA,10MA (603,591), bearish MA crossover can be expected. 20MA at 360
Previously eth made a bottom around 360 level after falling hard from 1K, without much retrace, to the 78.6fib support region.
116% jump after bounce off 78.6fib support to the 50fib-20MA(green) region
Since then it has fallen over 40% till now.
In the weekly, eth is below 5,10,20 and 50 MAs and 5MA is staring at a death cross of 50MA
If ether doesn't manage to close above 540 level during re-test of the recently broken 50MA as a resistance level, then it can fall to support levels mentioned above.
However if we get a bounce off the trendline i.e 480-490 region, then a relief rally to 610-620 can be xpected.
Comment:
Comment:
#ETHEREUM break below the trend line support, if the level holds true as a resistance now, then we may get a wave 5 count, taken as 1:1 fib extension of wave 1, around 420-440 region, i.e around the long-term trend line in weekly chart.
Comment:
#ethereum update: supported at the trend line around 490 region, after rejected by the Ts yesterday in 1D t-f. Break below the trend line will lead to a test of recent lows and 420-440 region. Bullish view if the support holds.
Comment:
#Ethereum making a Hanging man candle yesterday, at the wave a count.
After that fake trend line break on 13th, eth has recovered and is now facing resistance at the 20MA.
After that fake trend line break on 13th, eth has recovered and is now facing resistance at the 20MA.
Comment:
Ethereum dropping 15% after making a Hanging man candle at the 20MA resistance.
This ABC correction is shaping to be a regular flat instead of a zig-zag as wave b has retraced almost 90%
Now, if the trendline support at 475 holds for ethereum then we can expect wave c as 61.8fib of wave ab that will coincide with the down trend line resistance around 520-540.
This ABC correction is shaping to be a regular flat instead of a zig-zag as wave b has retraced almost 90%
Now, if the trendline support at 475 holds for ethereum then we can expect wave c as 61.8fib of wave ab that will coincide with the down trend line resistance around 520-540.