Long

Ethereum (ETH): Reached Important Zone | Watching The Reaction

Nothing good can be said currently for Ethereum; we are still not seeing any MSB to form, which would give us a sign of recovery so we keep watching and monitoring.

If we do not see any volume from buyers, we might be going into the $1,000 area, which will be a very nasty movement, considering that we did not even reach the full potential on Ethereum like on Bitcoin.

Swallow Academy

Note

Ethereum is still struggling to find that proper support zone which we would bounce from.

After recent breakdown from $2,000 zone we reached our target zone of $1,500 where now we are seeing few signs of possible buying pressure to come.

RSI is overbought, and weekends formed a bigger CME gap which might send price back to $2,000, but if we see any further weakness below $1,500 then we are going to see a nasty dip on the coin.

Note

Buyers are losing dominance on ethereum, where we see how sellers keep on pushing and pushing down, which might result in another wave of selloff.

Despite all signs telling us that we should see a proper upward movement to the resistance zone, currently it does not matter; we are in the liquidity hunting phase with markets right now.

2 zones we keep an eye on; whichever we reach and secure first, there we will head the most likely as well!

Note

Ethereum has a solid chance to move to $1800 if we see a successful re-test, which means if buyers secure the current zone.

Although markets are full of surprises this month, be careful for liquidity grabs that can happen.

Despite that, if all goes well, then we will be looking for BOS to form near the local top at $1688 and then we would be looking for entry right there!

Note

Ethereum has had rather a pump-and-dump movement lately in a sideways channel where we are not getting any clear signs of a buying opportunity or selling opportunity.

We keep just monitoring the markets, waiting for clear signs. (for a buying opportunity, a breakout and a proper re-test of our buying entry zone, where afterwards we want to see a BOS and similar price action for the sell entry zone).

SwallowAcademy

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SwallowAcademy

🚨 Authentic Traders
⚡️ Short-Term + Mid-Term Trades

Keep an eye on us and you will not regret it. 😉

Telegram: t.me/+fiEDSn7M9pJkODA0

Also on: