LandenInternational

ETHUSD needs a Positive Daily/Weekly Open

KRAKEN:ETHUSD   Ethereum / U.S. Dollar
Coming into the last week of May’s Trading ETH although currently positive might dip back down to close negative. Obviously for strength, this would look more bullish for the positive close. On the weekly we can see 5 touches of the lower upward channel trend line . Would like to see ETH push too close this weeks upper wick.


Inner Perspective
On the Daily we see price trickle down the Trend line from the highs. Tomorrows open if at the same P Level or above will be positive and also above this trend line . Other people charting will notice this also. Although a sign of strength P will need to fill the Weekly wick and also follow through to Test R1.


Failure will see a test to the APEx and/or lower trend line , break to support 1

Area of Interest
4 hour chart has the same summary as ‘Inner Perspective’ above. See more defined Candle movement. Keep in mind the inner downward trend line as this may stall the weekly wick close.


📈Support & Resistance📉*
Support Levels
1st Support Zone: 180.52
2nd Support Zone: 162.33
3rd Support Zone: 141.43

Resistance Levels:
1st Resistance Zone: 227.45
2nd Resistance Zone: 269.83
3rd Resistance Zone: 289.38


Price Level Consideration
ATH: 1597.08
All Time High Half Way Point: 798.53
Previous High: 290.14
Previous Low: 89.57
🐃 Bulls Verse Bears 🐻
🐃 Bullish above: 363.29
🐻 Bearish below: 115.22

Monthly & Weekly Opens
Monthly Open: 206.25
Weekly Open: 203.27

Comments

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