Ethereum getting weak? Full analysis by ThinkingAntsOk
4H CHART EXPLANATION:
In the 4H chart, we observe that price did a Pullback to the broken Descending Trendline, and looks like it is trying to bounce. It can start a little corrective impulse towards the Confluence Zone between the Descending Trendline and the Resistance Zone. However, do not forget that this is just a retracement of the price, the main trend is bearish at this moment as explained on the Daily and Weekly charts below.
MULTI TIMEFRAME ANALYSIS:
-Daily:
-Weekly:
In the 4H chart, we observe that price did a Pullback to the broken Descending Trendline, and looks like it is trying to bounce. It can start a little corrective impulse towards the Confluence Zone between the Descending Trendline and the Resistance Zone. However, do not forget that this is just a retracement of the price, the main trend is bearish at this moment as explained on the Daily and Weekly charts below.
MULTI TIMEFRAME ANALYSIS:
-Daily:
-Weekly:
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