Ethereum -> Just A Classic Shakeout
Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Ethereum already broke above a major previous weekly support/resistance area at the 11900 level.
You can also see that as we are speaking, Ethereum is retesting this previous resistance which is now turned support, market structure is still bullish and we already created the bottom of the bear market in my opinion, so I simply do expect more continuation towards the upside from the current levels.
On the daily timeframe you can see that Ethereum is also retesting previous daily support/resistance which could act as support so I am just waiting for some more bullish rejection inside of this area and then I do expect a next rally towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
https://www.tradingview.com/chart/ETHUSD/vVDYUoQR-Ethereum-This-Is-It/
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Ethereum already broke above a major previous weekly support/resistance area at the 11900 level.
You can also see that as we are speaking, Ethereum is retesting this previous resistance which is now turned support, market structure is still bullish and we already created the bottom of the bear market in my opinion, so I simply do expect more continuation towards the upside from the current levels.
On the daily timeframe you can see that Ethereum is also retesting previous daily support/resistance which could act as support so I am just waiting for some more bullish rejection inside of this area and then I do expect a next rally towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
https://www.tradingview.com/chart/ETHUSD/vVDYUoQR-Ethereum-This-Is-It/
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