Ethereum (ETH): Smaller Bounce Has Happened

7 days agoEthereum has had a smaller bounce so far but it has not yet secured that supportive zone.

We are still keeping an eye on this zone as we are seeing some signs of weakness but if we manage to stay in current zones for the next 48–72 hours, we will see a further movement to upper zones (towards EMAs).

Swallow Team

7 days ago

Comment

On a smaller timeframe, we are seeing a good possibility for a rejection to happen from current zones.

As Bollinger Bands is in an overbought zone, we are now seeing a struggle to breakout from the current zone, so a possible rejection from this zone is still in play.

If we somehow see a breakout crom current zone, then our next zone will be 200 EMA.