Etherum USD- following channel
in my opinion there currenty are three diffrent scenarios that will decide the next major price targets for etherum depending on how etherum will react if we are to hit the key 4000 USD level this is because we alot of support at this level. we have a key fibonacci level as well as large levels of previous resistance and support level and therefore we could see this act as a massive support. And if we are to break below this level then we could see a larger dump as people will have their stop losses and liquidation prices just below 4000 usd this could cause great liquidation in the market. but if we are to accept this 4000 usd level as support we will see a bounce to the upside and possibly go up above the recent high of 4400 which will cause shorts to get liquidated. if we dont break above this level though we could keep seeing etherum stay inbetween these key support and resistance levels of 4000-4400 USD.
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