EthereumShort
ETH Shakeout Pennant
Updated
Traders shake out ETH on the daily as bearish pennant anticipates a breakout continuing a macroscopic downtrend momentum.
Bears pushing power on the MACD with no indication of bulls crossing over, as yet. On the MACD we will need to see bears push towards -283.48 to see some buying action.
Set Alerts: ⏰
🔑 Lvl Support 2560.51
(Current)
🔑 2nd Lvl Support 2379.24
(Possible bounce or break)
🔑 3rd Lvl Support 2162.28
(If broken assume bearish breakout)
🔑 4th Lvl Support 1764.05
(Lowest bounce before resuming bull take-over)
*Please add value in the comments.
Bears pushing power on the MACD with no indication of bulls crossing over, as yet. On the MACD we will need to see bears push towards -283.48 to see some buying action.
Set Alerts: ⏰
🔑 Lvl Support 2560.51
(Current)
🔑 2nd Lvl Support 2379.24
(Possible bounce or break)
🔑 3rd Lvl Support 2162.28
(If broken assume bearish breakout)
🔑 4th Lvl Support 1764.05
(Lowest bounce before resuming bull take-over)
*Please add value in the comments.
Note
Descending FIB from resistance Lvl 3283.00 ETH shows a perfect bounce off 0.00% on the 24th January before failing to break resistance.On the 5th Feb bulls reached 88.6% followed by a perfect touch on the 78.60% hanging around the 38.2 & 38.2% before another perfect touch on 61.80% Fib on the 17th March.
Will Bears break the Pennant to 2nd support Lvl 2379.24 over the coming days? 👀
Will we see some bouncing action or a straight drop? Only time will tell.
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