Ethereum (ETH): Buyers Struggle To Secure Zone / Possible Fall
Ethereum buyers are struggling to maintain the current push from the lower support zone.
This is a very crucial zone for buyers, as if they do not show any dominance here we will see a failed double bottom pattern, which usually ends with a very sharp selloff near that support zone.
So we wait to see one of two things: either a huge green candle or a slow movement to support where we will be looking for a short position!
Swallow Team
This is a very crucial zone for buyers, as if they do not show any dominance here we will see a failed double bottom pattern, which usually ends with a very sharp selloff near that support zone.
So we wait to see one of two things: either a huge green candle or a slow movement to support where we will be looking for a short position!
Swallow Team
Note
On a smaller timeframe, we had another rejection from that small resistance zone where price is being pressured into a corner here.
Now with that sharp trend we have (bullish), we are looking for a short setup to form here but before that, we need to see a break of the lower Bollinger Bands Line, which will also break the trend line.
If we do not see that and we see another test to resistance zone, then we will see most likely a move to 200 EMA.
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