The break down from a 6 month channel is very likely to play some more downside for ethereum.
there is confluence with the volume profile point of control at 3236, 200 daily MA and measured move from a bear flag.
if that support fails, then 2800 will be the next major level of support.
Either levels are candidates for points of reversal to the upside.
there is confluence with the volume profile point of control at 3236, 200 daily MA and measured move from a bear flag.
if that support fails, then 2800 will be the next major level of support.
Either levels are candidates for points of reversal to the upside.
Note
also aligns with the 0.5 fib level from july bottom to november high
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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.