ETHUSDT

Hello Crypto Lovers,

Mars Signals team wishes you high profits.

This is a one-day-time frame analysis for ETHUSDT

Based on our previous analysis on May 15, we mentioned that the price would have more decline and now you see that it has happened truly. Now in this chart, you observe the price in a descending channel and on the top of this channel we have our resistance line (R2) and the existence of the hammers represent that the price could not break this line and was rejected. At the bottom of our channel, we have the support line (S2) and it shows that the price was able to touch this line at some points and was supported by it. In fact, the last time that the price touched this S2 line, it could rise a bit and then we see a high density of fluctuation here. Even this yellow line shows that the price could not move over this area and then we have to wait for its behavior. Either the price is able to have a pull back and face more decline toward our second support line, or it is able to move upward to the first resistance area and fix there and then move toward the R2 line and face more rise.

Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.

Wish you luck