Currently, ETHUSD is showing a clear diapason .
This zone (marked in white) might be indicated as neutral range that is a brilliant opportunity to act inside the diapason after the price rebounds from the yellow borders.
However, since the range is broken out, the following scenarios are likely to happen:
1. Bullish scenario.
Since during 9 days (October, 11 - October 20) the price experienced a clear downwards trend (white line) that was broken out inside the diapason, the bullish growing sentiment was crearly revealed.
In case of the upper range border breakout the price is likely to reach 3 targets, according to the strong resistance levels of several days (marked in green). The volumes will indicate the price impulse strenghts. Retest from the upper border is also possible in the foreseeable future.
2. Bearish scenario.
Nevertheless, spesifically in case of low volumes and growing beariish sentiment, the price, supposedly, after lower diapason border breakout will reach the continuation of the white line that will act as a support line. This may prevent the price from the further drop. The probable bearish price movements are in the red triangle with the lowest target of $160.
This zone (marked in white) might be indicated as neutral range that is a brilliant opportunity to act inside the diapason after the price rebounds from the yellow borders.
However, since the range is broken out, the following scenarios are likely to happen:
1. Bullish scenario.
Since during 9 days (October, 11 - October 20) the price experienced a clear downwards trend (white line) that was broken out inside the diapason, the bullish growing sentiment was crearly revealed.
In case of the upper range border breakout the price is likely to reach 3 targets, according to the strong resistance levels of several days (marked in green). The volumes will indicate the price impulse strenghts. Retest from the upper border is also possible in the foreseeable future.
2. Bearish scenario.
Nevertheless, spesifically in case of low volumes and growing beariish sentiment, the price, supposedly, after lower diapason border breakout will reach the continuation of the white line that will act as a support line. This may prevent the price from the further drop. The probable bearish price movements are in the red triangle with the lowest target of $160.