Ethereum (ETH): Possible $2,800 Incoming / Re-Test of EMAs

Mar 24

Ethereum is showing a decent buying volume currently, where the price has bounced off from $1,750.

Now, as we see some strong starts into the weekends, we do not rush into anything but rather monitor if buyers manage to keep this momentum for 24-48 hours; after that, only then will we be looking for further movement to upper zones for a proper re-test.

So far, it seems pretty promising.

Swallow Team

Mar 25

Note

Ethereum buyers are still pressuring the broken support zone, where we are expecting to see yet another proper rejection (similar to the first time we touched that zone).

There are 2 entries for long for us here, where the first one would be once we would get a rejection and form a double bottom pattern and the second one would be if we see buyers to overtake the zone above 200EMA and keep dominance for at least a couple of days.

Mar 26

Note

Ethereum struggles to have a proper breakout from our re-test zone, which is good.

Upon seeing the price rejection there, we can consider it as a successful re-test of the broken zone, which then would send the price for another smaller correction, before a bigger upward movement, which we are waiting for!

Anything above $2000, in our opinion, is a good price for accumulating the ETH into spot.

Mar 27

Note

Ethereum is seeing a good rejection where buyers failed to break from the local resistance zone. We are currently looking for the price to fall more, where at one point we should see an order of buys to form a strong wall of support.

Once we see any signs of reversal, we will be looking for a buying entry.

Mar 28

Note

We are seeing strong rejection from the local re-test zone, where we are aiming now to see a further drop until the $1,820, where we expect to see some kind of support to form.

Once we see the support zone form there, we will be looking for upward movement, but for now let's bleed a little bit more.