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andypro16
Mar 26, 2023 4:06 PM

ETH should test the upside liquidity zone Long

Ethereum / TetherUSBinance

Description

ETH has broken the down trendline, and some people may think it could be a false breakout.

From the technical point of view, if this is a false breakout, it is likely that ETH will at least test the upside liquidity zone and show a significant rejection pattern before it goes down.

If it is a valid breakout, of course it will go up.

So in both scenarios, it is likely ETH will hit at least $2000.

Comment

$2000 - $2200 is heavy resistance with strong selling pressure.
If ETH does not hit those large sell orders at that liquidity zone, there is no significant selling pressure at this moment.
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