ETHEREUM GANN ANALYSIS 15 MIN CHART 18 AUGUST 2024 08:12:23 IST
Ethereum is the second ranked bitcoin has hit an ATH at 4866.90 in Nov 2021. The Gann level to watch at all time highs was 4840 odd levels. It squaring price on monthly chart was 1090. We had made a low of 997.40 on June 2022. It was 7 months correction. Within 21 months we got a lower high of 4092.80 on March 2024. Gann level to watch was 3906.30.We made a double top with a lower high at 3973.10 in May 2024. Again Gann level of 3906.30 was important for Ethereum. August 2024 till date is 2178.90. Gann level to watch here is 2343.80 for further recovery to continue. We need to stay above 2356.30 to continue the recovery. Drop below 2343.80 the correction can continue downwards till next support of 2083.40. Important month to watch is Oct 2024.
Short term traders range to watch is 2552.10 and 2604.20. We have made a double bottom at 2552.40 on 16 Aug 2024 at 06:45 IST and 2552.40 on 16 Aug 2024 aat 21:00 IST. We have double tops coming in at 2628.50 on 16 Aug 2024 at 12:30 IST and 2630.90 on 16 Aug 2024 at 23:30 IST.
Breakouts on either side will happen above 2604.20 on upside and 2552.10 on downside. A stop loss of 7 points can be used by short term traders.
Happy Trading !!!
Short term traders range to watch is 2552.10 and 2604.20. We have made a double bottom at 2552.40 on 16 Aug 2024 at 06:45 IST and 2552.40 on 16 Aug 2024 aat 21:00 IST. We have double tops coming in at 2628.50 on 16 Aug 2024 at 12:30 IST and 2630.90 on 16 Aug 2024 at 23:30 IST.
Breakouts on either side will happen above 2604.20 on upside and 2552.10 on downside. A stop loss of 7 points can be used by short term traders.
Happy Trading !!!
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