ETHEREUM-A reversal pattern is possible
Hello everyone
From my last analysis on ETHUSD we had the crash of LUNA and the news from federal reserve.These two incidents made the market fall to this level.
For Ethereum,this trading range on 4 hours chart lasted too long, so I believe it's safe to call it a last bear flag and waiting for a reversal,preferably a double bottom.At the current market the support levels are 1950$ and the channels bottom line on 1900$ and EMA 20 if you use one , for resistance we have 2150$.
By the way, if you are trading this asset on smaller time frames you may see a bull flag on 1H or lower.
From my last analysis on ETHUSD we had the crash of LUNA and the news from federal reserve.These two incidents made the market fall to this level.
For Ethereum,this trading range on 4 hours chart lasted too long, so I believe it's safe to call it a last bear flag and waiting for a reversal,preferably a double bottom.At the current market the support levels are 1950$ and the channels bottom line on 1900$ and EMA 20 if you use one , for resistance we have 2150$.
By the way, if you are trading this asset on smaller time frames you may see a bull flag on 1H or lower.
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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.
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.