Hello TradingView Family / Fellow Traders,
As per my last analysis, ETH is now hovering around the $2900 - $3000 support.
What's next?
Scenarios:
1️⃣ Bullish
For the bulls to take full control again, a break above the last high marked in red is needed.
In this case, a movement towards the upper orange trendline and blue structure at $3350 would be expected.
2️⃣ Bearish
In parallel, if the $2,900 support is broken downward, we expect a bearish movement towards the $2,500 - $2,600 demand zone.
Which scenario is more likely to happen first? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr