#ETHUSD
ETH rejected from middle line of parallel channel that is the same as 0.618 fib level of AB swing down.
now price is facing a support zone.
bearish scenario : if price break down this support zone the next support is lower line of parallel channel. and if #ETH going to complete AB=CD for correction wave the down trend target can be 1.618 fib level of BC around $2900.
bullish scenario :ETH can return from this support zone and break out from descending support line and head up to touch the upper line of parallel channel.
ETH rejected from middle line of parallel channel that is the same as 0.618 fib level of AB swing down.now price is facing a support zone.
bearish scenario : if price break down this support zone the next support is lower line of parallel channel. and if #ETH going to complete AB=CD for correction wave the down trend target can be 1.618 fib level of BC around $2900.
bullish scenario :
ETH can return from this support zone and break out from descending support line and head up to touch the upper line of parallel channel.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.