Can Ethereum pass the Price Reversal Zone(PRZ)❗️❓

pejman_zwin Updated   
BINANCE:ETHUSDT   Ethereum / TetherUS
Currently, Ethereum is moving in the Price Reversal Zone (PRZ), so it is better to get to know the quality and power of PRZ to answer the question of the title of this post.

What factors does the PRZ for Ethereum include in the daily time frame❓ (The higher the number of overlapping factors ⏩⏩⏩The strength and quality of the PRZ or resistance/support zone is greater.)

  • ⚫️Most important downtrend line

  • 🟡Cluster of Fibonacci($1,632-$1,589)

  • 🔴Upper line of descending channel

  • 🔵50 day Simple Moving Average(50_SMA)

  • 🟣Monthly Pivot Point($1,603.38)

According to the above factors, PRZ has an huge strength, so, I expect that Ethereum will not be able to break PRZ in the first attempt and that Ethereum will decrease to the middle line of the descending channel and the uptrend line in the coming days or even hours.

Ethereum Analyze ( ETHUSDT ), Daily time frame ⏰.

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If the daily candle closes above the PRZ, the breakout will be valid (at least more than half the body).

There is a possibility of a bull trap.

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