Ethereum / TetherUSShort
Ethereum will fall like other coins ?!
Updated
👋🏻 Hello everyone, today we would like to look at the Ethereum chart and possible scenarios.
Now the price is in the support zone, but we have several bearish signals:
1️⃣ Local lowering of highs and lows
2️⃣ The weakness of the entire market and the renewal of all time low on many top altcoins
3️⃣Increase in volumes on the fall
4️⃣Fixing below 50 and 100 daily MA
❗️But on the older time frame, we see a bullish structure and we can now consider this movement as a correction after the 57% rise (from $1370 to $2150).
Expecting that the correction will continue, we can predict the potential zones of the end of the correction as long as there are 2 of them:
🔹$1550 - $1630 (200 Daily MA ; Crossover of 50 and 100 Weakly MA)
🔹$1367 - $1440 (the zone of the beginning of the impulse and the trend line)
❌ Cancellation of the downward scenario will be a quick buyout of Ethereum in the coming days and a fixation above $1860 .Until this moment we would not advise considering longs.
But it is worth noting that the ethereum looks stronger than other alts and if signs of strength appear, we would buy it first in the portfolio.
❓What are your thoughts on Ethereum?
Now the price is in the support zone, but we have several bearish signals:
1️⃣ Local lowering of highs and lows
2️⃣ The weakness of the entire market and the renewal of all time low on many top altcoins
3️⃣Increase in volumes on the fall
4️⃣Fixing below 50 and 100 daily MA
❗️But on the older time frame, we see a bullish structure and we can now consider this movement as a correction after the 57% rise (from $1370 to $2150).
Expecting that the correction will continue, we can predict the potential zones of the end of the correction as long as there are 2 of them:
🔹$1550 - $1630 (200 Daily MA ; Crossover of 50 and 100 Weakly MA)
🔹$1367 - $1440 (the zone of the beginning of the impulse and the trend line)
❌ Cancellation of the downward scenario will be a quick buyout of Ethereum in the coming days and a fixation above $1860 .Until this moment we would not advise considering longs.
But it is worth noting that the ethereum looks stronger than other alts and if signs of strength appear, we would buy it first in the portfolio.
❓What are your thoughts on Ethereum?
Trade active
1st demand reached
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.