ETHUSDT
This is a 1D frame analysis for ETHUSDT In the weekly time frame, we have a first resistance line and with the pressure of the weekly downtrend pattern that has been formed, we can have an indication of a possible bearish trend. The conditions in the weekly time frame are not too bad for Ethereum and if it can push itself above its resistance line, we can identify a strong resistance zone. In the daily time frame, the support zone of 4 hours has done its job well so far and has prevented further price drops. The price has tried to break the previous resistance line but was unsuccessful and has moved close to our first support line. Currently, the price in the daily time frame is showing us an upward move of the indicator Ichimoku, but other patterns cannot show us an uptrend or downtrend. The market is currently indecisive and we should wait for a breakout. If the price breaks below the support line, we will see further drops and if the price stabilizes above the resistance line, we can expect to see a price increase to the second resistance zone.
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