Outer Perspective
Pointing out the inner upward parcel channel to overall price before going more internally to the charts so we observe the Marco to micro outlook. Also note the trend line from the ATH and the lows back to the start of ETH’s inception.
Inner Perspective
It maybe to early to confirm however ETH looks like to close the weekly candle positive. After having a week of retracement this is good to confirm. This stamps the upward parallel channel into play.
Area of Interest
Watching for a break through the trend line from the ATH this week (orange trend line from the highs) Price may APEX and meet the inner upward trend line. A hold and push back north being ideal for confirmation of the parallel channel has formed and respected. A break south would alter this with a further drop to support to catch P action.
Daily:
📈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: 187.48
Pointing out the inner upward parcel channel to overall price before going more internally to the charts so we observe the Marco to micro outlook. Also note the trend line from the ATH and the lows back to the start of ETH’s inception.
Inner Perspective
It maybe to early to confirm however ETH looks like to close the weekly candle positive. After having a week of retracement this is good to confirm. This stamps the upward parallel channel into play.
Area of Interest
Watching for a break through the trend line from the ATH this week (orange trend line from the highs) Price may APEX and meet the inner upward trend line. A hold and push back north being ideal for confirmation of the parallel channel has formed and respected. A break south would alter this with a further drop to support to catch P action.
Daily:
📈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: 187.48
