ETHEREUM REMAINS BEARISH
Ethereum remains bearish:
As I was expecting, ethereal finally come back lower, from my point of view, it could have gone up, but at the end, Ethereum needs to come lower before going all time highs, so, now with the current scenario I have only one view.
As the first impulse was the first red line, and then a consolidation with a Darvas box in red as well, the projection casually, arrives to the support and resistance level of 105$-98$, which is the 78% Fib from the original impulse, at the same time, this could be seen as an ABC corrective formation.
As I was expecting, ethereal finally come back lower, from my point of view, it could have gone up, but at the end, Ethereum needs to come lower before going all time highs, so, now with the current scenario I have only one view.
As the first impulse was the first red line, and then a consolidation with a Darvas box in red as well, the projection casually, arrives to the support and resistance level of 105$-98$, which is the 78% Fib from the original impulse, at the same time, this could be seen as an ABC corrective formation.
Note
Once we have arrived to 105$ region from the 130-125$ region we only have to wait a bit more, the resistance level on the 100$ it is just like a magnet, little by little we are going to arrive, or maybe not, maybe we arrive there with an impulse like I have said since the beginning, but, anyways, the target is meet in a bit, and the analysis posted is correct, enjoy your trades and put stop losses.
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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.