MA200 worked as a support line. ETH is in the descending triangle and about to break it. So next days will show us how it will go. My opinion, It'l bounce further if it breaks the upper descending line of the triangle.
There is a harmonic patern in ETH-USDT time series. From 14th of May, ETH is following a harmonic patern. In upcoming days, we may see some drops till 2250 level which is our support, and then ETH will boost to its resistance level which is around ~2850. So be patient, and wait till end of the June.
Regards and loves.
ETH broke the red descending line few days ago. After increasing a little bit it couldn't pass the level 2625. From now on, the gray ascending line will be a support, it should be followed.
There is a interesting trend which we should pay attention. The orange sine wave shows the harmonic pattern of eth from the day 21th May. Eth follow this oscilattory...
Its'a very critical time for ETHEREUM .
After ETH fall from 2800 to 2200 , MA100 and the neckline of head-shoulder formation worked as a support correctly.
Now, it's time to go bollinger upper band which is around 2800 with the increasing trend of the Bitcoin.
Its'a very critical time for ETHEREUM. We are at the risky zone to invest.
The neckline of head-shoulder formation, and also MA100 level worked as a support correctly. On the otherhand, it reached the lower band of Bollinger as you can see in the graph. Now it's time to decide next moves. There are 2 cases:
ETH will rise up ~2800 level while BTC hanging...
ETH reached Bollinger's low band in the daily timeseries. It has broken down MA100 level already. Now It seem like time to go around 1800 which is MA200 level. I believe that After it reaches ~1800 then it will break the wedge and try to reach bolling up band.