Good Day everyone!
This is my first time to share my idea on this platform and I would like to share my analysis on ETH and where it will be heading. As you can see, ETH already reached our lower channel support on the 0.618 Fibonacci level for this monthly chart at $3084. A break on this support would lead the price down to $2900, $2700 and if it goes deeper, at $2500 which is at the level of 0.5 FIBO. It's up to you if you start a trade at this level which is also a good entry point for long, given that 0.618 level is already a good support.
Now, if ETH will be able to break the red line at $3300 and sustain this price, the uptrend will possibly resume with resistance as specified herein.
This is my first time to share my idea on this platform and I would like to share my analysis on ETH and where it will be heading. As you can see, ETH already reached our lower channel support on the 0.618 Fibonacci level for this monthly chart at $3084. A break on this support would lead the price down to $2900, $2700 and if it goes deeper, at $2500 which is at the level of 0.5 FIBO. It's up to you if you start a trade at this level which is also a good entry point for long, given that 0.618 level is already a good support.
Now, if ETH will be able to break the red line at $3300 and sustain this price, the uptrend will possibly resume with resistance as specified herein.