Does Ethereum test the bottom of the channel?
Updated
hello guys
As shown in the picture, we see a channel in this currency
But Ethereum could not break this channel validly.
The bottom of the channel shows us the price of $1,700, which can be a nightmare for short-term investors
But it is a great opportunity for banks and long-term investors
We should also note that Ethereum managed to take a very high price node at $2390.
https://www.tradingview.com/x/USiQyfjp/
Also, if we draw from the historical ceiling of Ethereum to the lowest price of a fibo, we will find that the price indicator has reacted to the 0.6 retracement line.
https://www.tradingview.com/x/ioTObQNN/
By examining the two important indicators that you can see in the picture above, we see a divergence and capital outflow from this currency
In general, my opinion is that the price can go down to the areas of 2100-2030.
And if there is no support from buyers in these areas, there is a possibility of testing the bottom of the channel.
As shown in the picture, we see a channel in this currency
But Ethereum could not break this channel validly.
The bottom of the channel shows us the price of $1,700, which can be a nightmare for short-term investors
But it is a great opportunity for banks and long-term investors
We should also note that Ethereum managed to take a very high price node at $2390.
https://www.tradingview.com/x/USiQyfjp/
Also, if we draw from the historical ceiling of Ethereum to the lowest price of a fibo, we will find that the price indicator has reacted to the 0.6 retracement line.
https://www.tradingview.com/x/ioTObQNN/
By examining the two important indicators that you can see in the picture above, we see a divergence and capital outflow from this currency
In general, my opinion is that the price can go down to the areas of 2100-2030.
And if there is no support from buyers in these areas, there is a possibility of testing the bottom of the channel.
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Due to the fact that the price could not stabilize at the top of the channel and a higher ceiling was not registered, we can expect the price to fall to the range of 2100-2150.
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