Ethereum is still moving into descending channel

Hi everyone

Ethereum price is still moving into descending channel and as you can see

on the chart below, price test the top line of our channel but couldn't break

it upward. so it rejected.

if we want to see a bull trend, price needs to break our channel upward and close

above the key resistant level 4200$.

if not bears have more chance to take the control so target around 3600 is expected.

this could be the last try for bears before new bull trend start.


Enjoy the market

Giao dịch đang hoạt động:

price exactly bounced back from 3600 support level as expected but as long as the price move below 4200 resistant level bears have the main role

Giao dịch đang hoạt động:

strong possible we see one of this two scenario happen in next hours coming. first can bounce from our weekly trend line or can drop to 3600$ level again then bounce upward. lets see

and
HAPPY NEW YEAR