ETHUSD is moving in a potential downward channel with price bouncing off the bottom of the channel in the form of correction. ETHUSD break important level at 120$ and since then its been trading down and we believe the next support level will be in the range of 100$-105$.
Possible Entry and exit targets are clearly stated on the chart.
BLUE: POSSIBLE ENTRY ZONE GREEN: SELL TARGETS
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Possible wave pattern for the price movement on smaller time frame
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We has strong resistance ahead of us, all eyes will be at 120$ level now
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Market structure getting to look bullish now and we must re-adjust our plans accordingly.
We still has strong resistance above after price manage to breakthrough 137$.
Right now 141$ has become our immediate issue, the plan will be either to wait for drop to buy lower or wait till price break out from the zone and buy the PULLBACK.
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