Analysis: ETH is currently trading around the 3.3 - 3.5k resistance zone making lower highs while maintaining consistent lows. This forms a wedge against the local support of 3.2k. If broken the next support zone would be the 2.8k to 3k. For ETH to make a bullish reversal it would have to break the trend and the 3.5k resistance zone.
What I'm Looking for: In this position, I would only look to pick up ETH on the test of the 3k Support level. Likewise, I would look to short ETH on the test of the trend (3.3k) and potentially on the test of the 3.5k depending on conditions.
Overall, We recognize that ETH is overall Bearish at the moment and expect the price to continue to fall and as such look towards potential support levels/zones for a reversal or horizontal.
Best of Luck, Like/Follow for More.
Next Post Wednesday Either on ADA or ETH.
What I'm Looking for: In this position, I would only look to pick up ETH on the test of the 3k Support level. Likewise, I would look to short ETH on the test of the trend (3.3k) and potentially on the test of the 3.5k depending on conditions.
Overall, We recognize that ETH is overall Bearish at the moment and expect the price to continue to fall and as such look towards potential support levels/zones for a reversal or horizontal.
Best of Luck, Like/Follow for More.
Next Post Wednesday Either on ADA or ETH.