Hello Traders!
- Please push the like button if you like the content or drop a comment to share your idea!
- if you can look the Daily chart we can see that ETH is trading inside a descending channel since 1 December 2021 , sellers successfully took the price down towards level support 2300$ , yet failed to make a new lower low , since then
buyers had a decent fighting defending this support zone , price accumulated over a small period then bounced back strongly suggesting that buyers are ready to push the price higher but ultimately they failed to break descending
resistance level taking the price toward level support 2600$ along with the bad news that hit the market following the war between RUSSIA and UKRAINE , BTC was performing well over the last 24 hours meanwhile the king of Alts is
making its on way as well breaking the descending trendline resistance , suggesting that buyers are ready to push again hardly following a decent amount of buying pressure
- In my opinion i would like to see buyers taking price higher toward level resistance 3000$ (TRIGGER ) breaking it , a decent closing candle on 1 day time frame or 4H will be a considerate confirmation that buyers are being in control ,
still we need to take into consideration the volatility of the market due to the recent bad news about war , short and mid term holders are selling at every pullback in order to take short profits and closing positions. If buyers failed
price might go back to last support level 2300$ ~ 2600$.
Thank you,
Good luck traders!
- Please push the like button if you like the content or drop a comment to share your idea!
- if you can look the Daily chart we can see that ETH is trading inside a descending channel since 1 December 2021 , sellers successfully took the price down towards level support 2300$ , yet failed to make a new lower low , since then
buyers had a decent fighting defending this support zone , price accumulated over a small period then bounced back strongly suggesting that buyers are ready to push the price higher but ultimately they failed to break descending
resistance level taking the price toward level support 2600$ along with the bad news that hit the market following the war between RUSSIA and UKRAINE , BTC was performing well over the last 24 hours meanwhile the king of Alts is
making its on way as well breaking the descending trendline resistance , suggesting that buyers are ready to push again hardly following a decent amount of buying pressure
- In my opinion i would like to see buyers taking price higher toward level resistance 3000$ (TRIGGER ) breaking it , a decent closing candle on 1 day time frame or 4H will be a considerate confirmation that buyers are being in control ,
still we need to take into consideration the volatility of the market due to the recent bad news about war , short and mid term holders are selling at every pullback in order to take short profits and closing positions. If buyers failed
price might go back to last support level 2300$ ~ 2600$.
Thank you,
Good luck traders!