Here is an update to our two previous posts:
ETH perfectly bounced from our "First Key Test" to our original green trendline we pointed out would act as a new level of selling pressure.
Price did respect this green trendline as a new resistance level for many days until having a false breakout above to test the "Supply Zone".
Upon getting rejected at the Supply Zone (Red Box), price broke back below our green trendline, reclaimed it as resistance, and has fallen more.
What's next? Will have another post following this update.
ETH perfectly bounced from our "First Key Test" to our original green trendline we pointed out would act as a new level of selling pressure.
Price did respect this green trendline as a new resistance level for many days until having a false breakout above to test the "Supply Zone".
Upon getting rejected at the Supply Zone (Red Box), price broke back below our green trendline, reclaimed it as resistance, and has fallen more.
What's next? Will have another post following this update.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.