Salaam
ETH has some reason to bounce from the 1550 area:
In H4 ETH made higher low and highs, 1550 is 61 FIBO retrace.
1550 is also the intersection of two trend lines. H4 descending trendline that it pullback and also H1 ascending trend line.
1550 also acts as a key level that ETH bounces several times.
1550 is also H4 EMA 20 which acts as a dynamic support.
I expect to see an impressive bounce from here, otherwise, the down power could send ETH lower.
In the case that the H4 candle closes below 1500, it could be a sign that the market return to bearish again.
Good luck
ETH has some reason to bounce from the 1550 area:
In H4 ETH made higher low and highs, 1550 is 61 FIBO retrace.
1550 is also the intersection of two trend lines. H4 descending trendline that it pullback and also H1 ascending trend line.
1550 also acts as a key level that ETH bounces several times.
1550 is also H4 EMA 20 which acts as a dynamic support.
I expect to see an impressive bounce from here, otherwise, the down power could send ETH lower.
In the case that the H4 candle closes below 1500, it could be a sign that the market return to bearish again.
Good luck
There is a bulling flag.
Waiting to break