ETH decision point
*log scale*
ETHEREUM ran into major downtrendline resistance (red, see the picture below)...
...and then dropped to the support confluence (cyan area created by lime and white uptrendlines). We are approaching the apex of triangleš created by lime uptrendline and red major downtrendline so the decision point is coming. If the cyan area support doesn't hold, we could see price spilling to the yellow channel upper edge near 1300. On the other hand if there is break of the red major downtrenline to the upside, bulls are in charge.
Check my other stuff in related ideas.
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ā ļøDisclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
ETHEREUM ran into major downtrendline resistance (red, see the picture below)...
...and then dropped to the support confluence (cyan area created by lime and white uptrendlines). We are approaching the apex of triangleš created by lime uptrendline and red major downtrendline so the decision point is coming. If the cyan area support doesn't hold, we could see price spilling to the yellow channel upper edge near 1300. On the other hand if there is break of the red major downtrenline to the upside, bulls are in charge.
Check my other stuff in related ideas.
Please boostš, commentš£ļø, follow meāļø, enjoyšŗ!
ā ļøDisclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
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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.