ETH | Potential 🐻 Trap?
Eth is current lingering at a critical support cluster.
Price wicked down passed the 50ema level, indicated strong demand.
Last time we saw break in 20EMA, the 50day acted as critical support and made a higher low, with a stronger continuation. This could be at play here, but whales will have sell offs at random points. So be aware of sudden shake out.
Critical support zones: $1646 - $1652.
If rising wedge support holds we can see a potential test to wedge resistance at around $1760 - $1790.
Below below in wedge support & cluster would indicate potential move further to 1585-1600 area.
Price wicked down passed the 50ema level, indicated strong demand.
Last time we saw break in 20EMA, the 50day acted as critical support and made a higher low, with a stronger continuation. This could be at play here, but whales will have sell offs at random points. So be aware of sudden shake out.
Critical support zones: $1646 - $1652.
If rising wedge support holds we can see a potential test to wedge resistance at around $1760 - $1790.
Below below in wedge support & cluster would indicate potential move further to 1585-1600 area.
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