Hello, community members welcome to this ETH/USDT daily chart update by Domino crypto.
Don’t forget to hit the like button if you find this update helpful because this motivates me to bring this kind of update on a regular basis.
Now, Let's get to the chart,
Nothing much has changed yet in this daily time frame.
As we can see ash the above-mentioned chart that ETH/USDT still trading still inside and at a lower trend line in support of descending channel pattern.
Here, we can see ETH bounced right from the lower trend line support and FIB LEVEL of 0.616 and bounced for 3 consecutive days.
till $2167 price level and again rejected from the price level.
After touching the price level of $2167 ETH was again unable to hold that price level and lost 11% and moved back to the price level of $1900 were also getting the fib level of 0.618.
FIB LEVEL 0.618 level is also a good buying zone for bull traders in this daily time frame.
RSI also prints a bullish divergence pattern and bounces on a trend line support.
If the current daily candle closes above the price level of $2k then we will be able to see more green candles towards the $2.5k level in the upcoming days.
INVALIDATION: candle close below the lower trend line support in the daily time frame will be the invalidation point of this chart analysis.
NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.
DO YOUR OWN RESEARCH BEFORE TAKING ANY TRADES.
Thank you.
Don’t forget to hit the like button if you find this update helpful because this motivates me to bring this kind of update on a regular basis.
Now, Let's get to the chart,
Nothing much has changed yet in this daily time frame.
As we can see ash the above-mentioned chart that ETH/USDT still trading still inside and at a lower trend line in support of descending channel pattern.
Here, we can see ETH bounced right from the lower trend line support and FIB LEVEL of 0.616 and bounced for 3 consecutive days.
till $2167 price level and again rejected from the price level.
After touching the price level of $2167 ETH was again unable to hold that price level and lost 11% and moved back to the price level of $1900 were also getting the fib level of 0.618.
FIB LEVEL 0.618 level is also a good buying zone for bull traders in this daily time frame.
RSI also prints a bullish divergence pattern and bounces on a trend line support.
If the current daily candle closes above the price level of $2k then we will be able to see more green candles towards the $2.5k level in the upcoming days.
INVALIDATION: candle close below the lower trend line support in the daily time frame will be the invalidation point of this chart analysis.
NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.
DO YOUR OWN RESEARCH BEFORE TAKING ANY TRADES.
Thank you.
