We are in one of the most important zones for Ethereum, where we are looking for 2 possible scenarios currently.
1) Ideally we should see a buying volume to build from here, which would give us a good buying opportunity once we see an MSB to form on smaller timeframes.
2) If sellers keep this kind of dominance, we will fall to a lower size of our zone, which is $1,500.
Currently, Monday has been pretty weak so we might have to wait more for a proper support zone to form but keep your eyes on EMAs; they are way too far from the market price, which usually means a possible quick movement can happen!
Swallow Team
1) Ideally we should see a buying volume to build from here, which would give us a good buying opportunity once we see an MSB to form on smaller timeframes.
2) If sellers keep this kind of dominance, we will fall to a lower size of our zone, which is $1,500.
Currently, Monday has been pretty weak so we might have to wait more for a proper support zone to form but keep your eyes on EMAs; they are way too far from the market price, which usually means a possible quick movement can happen!
Swallow Team
Note
Ethereum is forming a proper support near our local bottom, which has been our point of interest for quite some time now.
We are going to wait now for upper resistance to be tested, where afterwards we will be looking for a break to happen where we will be looking for a long position.
Note
Ethereum has been moving just as we needed for the last couple of months, and now we are at a smaller dispute area.
As we are about to form a double bottom pattern, this is not yet confirmed (it needs a proper breakout from resistance).
Meanwhile, markets are again dipping; we have placed 2 zones, which we will be keeping our attentions on.
If any of those zones are secured and broken, then we will be taking the position according to market structure development!
Note
Sellers are not showing any remorse, and we see a strong dominance on their side currently.
Slowly we are approaching the sell entry of ours, whereupon seeing a breakdown, we expect the price to fall as low as $1500.
Trade active
As we monitor the markets, ethereum has dipped nicely to our second bottom, but we got close to our sell entry zone here, which is showing the great dominance of sellers.
As we enter the weekend market, we most probably will see some volatility, but nevertheless, we wait for one of our entries to be broken and secured (properly re-tested).
🚨 Authentic Traders
⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
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⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
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.
🚨 Authentic Traders
⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
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.