ETHUSDT. Medium-term and short-term analysis
Updated
Hello investors and traders!
On the weekly timeframe, we have a sideways movement. The current vector is for buyers 8-9. The first target, 3580.34, has been reached by the buyer. The next target (if the buyer surpasses 3580) is 4372. If the weekly bar closes below 3056.56, the likelihood of further price decline will increase. Considering an investment deal would be advisable if the price falls below 2800.
On the daily timeframe, we observe a sideways movement, and yesterday the seller played out their vector 7-8 and closed the bar below the boundary of the sideways range, at 3056.56. I am monitoring the actions of the buyer. If they bring the price back into the sideways range (above 3056.56), I will assess their strength and possibly consider buying.
On the weekly timeframe, we have a sideways movement. The current vector is for buyers 8-9. The first target, 3580.34, has been reached by the buyer. The next target (if the buyer surpasses 3580) is 4372. If the weekly bar closes below 3056.56, the likelihood of further price decline will increase. Considering an investment deal would be advisable if the price falls below 2800.
On the daily timeframe, we observe a sideways movement, and yesterday the seller played out their vector 7-8 and closed the bar below the boundary of the sideways range, at 3056.56. I am monitoring the actions of the buyer. If they bring the price back into the sideways range (above 3056.56), I will assess their strength and possibly consider buying.
Note
On the daily timeframe, observe how significant levels almost coincided at the lower boundary of the sideways range at point 8. There was a seller's impulse from point 7 to point 8. The key bar of the impulse (with the highest volume) is the last one that attacked the boundary of the sideways range (3056.56). The key bar on the chart is marked as "KC." The maximum of the key bar of the seller's impulse is 3301.9.
The 50% level of the last seller's impulse is at 3291.36.
I am awaiting the price interaction with these levels and observing the reaction.
Good luck with your trading!
t.me/user_friendly_trading
t.me/user_friendly_trading
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