Ethereum (ETH): Weekly Supportive Trend Seems Weak!

Sep 16

Another week is here and we see already some struggle near our zone (where price has to bounce from).

Now, as we have previously mentioned, ideally we should see a upward movement from here and a bounce, but it seems that the volume of buyers is not strong enough and sellers are taking control here.

If it continues like that, we will see further pressure here and a possible break of trend to happen (which would start a nasty downward movement from here).

Swallow Team

Sep 16

Note

Ethereum is not looking good on the daily timeframe, where the price is still presuring the support zone after a failed attempt to bounce from there.

We are looking for a possible sharp breakdown to happen as market structure is looking almost perfect for such a movement from here so let's see!

Sep 17

Note

Ethereum has again touched our support zone, where we had a small bounce so far.

We are still looking for further break of structure here and a movement to lower zones but we need to wait out for perfect break of structure here so eyes on the support zone!

Sep 18

Note

Sellers are back at pressuring the support zone, where we are slowly entering the phase of breaking this zone.

We are still waiting for a full breakdown but we are pretty optimistic about the break that should happen so keep your full attention in the current zone!

Sep 19

Note

Ethereum is back at upward movement and buyers are trying to secure our entry zone for a possible long setup here.

We are keeping a close eye on this dotted line but the current push seems a little big off so do not rush into making decisions!

Sep 20

Note

Ethereum has been showing good buying pressure, and now our attention is on the upper line, which should align with EMAs in a couple of days.

This will be the zone we will be looking for a possible short setup!