Ethereum (ETH): Buyers Establish Support, Waiting Confirmation

Apr 21

Buyers seem to have established a supportive zone where buyers are showing some kind of dominance on Ethereum.

Although it is early to say that this would be the bounce zone for us, we need to see some sideways movement or a retest of that support zone, after which we are going to look once again for dominance to fall into buyers hands.

Once we see that we are going to look for MSB to form, and then we will be looking for a long position here.

Swallow Academy

Apr 21

Note

Ethereum is still in-between our dotted line area, which is acting as a supportive zone there. Despite seeing some sort of buying volume building up, we are not rushing into any trade but rather showing once again multiple entry zones we are looking for before entering the trade on ETH.

As always, we need to see a proper break of line and a retest in order to consider it a valid entry.

Apr 22

Note

Ethereum has been trading in a sideways channel for quite some time, and now we see again the overtake of buyers.

We are aiming to see the price reach the upper "golden zone," which is a combination of resistance, bullish CME, and 200EMA.

Upon reaching this zone, we will be looking for any signs of rejection there and a possible MSB to form as well.

Apr 23

Note

Ethereum has done a decent pump since bottoming, where now the price has reached our golden zone where we had a nice 10% pump so far, which filled our CME, touched our resistance zone and also formed a nice liq candle above 200EMA.

If all goes well, we might see an MSB form here, which would send the price to lower zones here, but if we see any sort of further movement to upper zones and buyers manage to secure that resistance zone and turn it into a support zone, then we will be looking for the $2,000 area.

Apr 24

Note

We reached our golden zone on Ethereum and had a nice rejection from here, as we had been waiting for.

Now we are aiming to see the price test the $1,666 zone as a first target and from there we will see if we break this zone; then lower support zones are our targets but if we see an MSB form there, then we will be looking for an upward retest of the golden zone.

Apr 25

Note

We are waiting for further market structure development in order to get the confirmation on upcoming downward movement, which we are looking for currently.

After the fill of bullish CME, we had a nice rejection and first signs of weakness, which might turn into a bigger rejection from our golden zone.

As soon as we see a proper MSB form below that zone, we are going to look for downward movement from there!