Ethereum (ETH): Still Holds Bullish Trend Line!

Feb 24

We had some choppy moves on Ethereum recently thanks to the Bybit hack.

Nevertheless, that dip got bought up very quickly and buyers are still maintaining the local support zone, which is a very strong one, as we have talked previously. Combined with EMAs sitting at that area, this is a good buying zone for sure.

Now the current weekly candle is showing some weakness but we are not going to judge yet as it is just the start of the week!!

P.S. As long as we are above EMAs, we are good for long!

Swallow Team

Feb 24

Note

Ethereum is not looking good on smaller timeframes where the current daily candle is in the hands of sellers and they are not showing any remorse.

Despite us still looking for upward movement before another smaller correction, if we see any early drops toward our sell entry and a stop loss, then we will be looking for a possible movement towards the $2000.

Feb 25

Note

Well, sellers took over the local push we had here and broke the supportive trend, resulting in a decent drop as well.

As our upper buy entry failed, we are going to look for lower zones to be reached now, which are in the $2000 area.

From there we will be looking for some kind of BoS to form on smallertimeframes and overtake of buying volume so, we expect a further drop for now.

Feb 26

Note

Ethereum has been moving just as we need—a proper breakdown + smaller correction—and now ready for another round, it seems.

We are looking for a price to reach our lower target zone of $2000, which would be our buy zone as well so keep an eye on it!

Feb 27

Note

While we had a good downward movement and a rejection from 200EMA, the price is still hovering in between upper zones and lower zones, so the most logical thing here is to find a proper support from where to bounce, which would be our target area near $2000.

So far price has been moving exactly as we need, so a smaller correction is going on and will go before another fall!

Feb 28

Note

We are at the major zones with Ethereum where we reached our target zone.

Now this is the breakpoint for us, as if we see a further breakdown from here, then Ethereum will see a very nasty further fall from here.

Logically, we should see at least some kind of recovery from here, but let's see. We gotta wait for more confirmations!