Looking at ETH on the 4-hour time frame it looks like its double bottomed out and is now looking to reverse back upwards.
The start of the uptrend was created the last week of April going into May at $2,300 without a single pullback from the $2,100 area. This was very overbought and was gearing up towards a brutal crash.
From this move upwards though, ETH formed a local high at $4,200 until it dropped to the 1.0 Fib level at around $2,000.
Now ETH gained the 1.618 Fib level resistance as support at the $2,700 area and is looking like it wants to gain up to the $3,000 level and above.
Going into this month it is going to regain support inside of this upwards channel and continue the move up to newer highs beyond the local high at $4,200.
The start of the uptrend was created the last week of April going into May at $2,300 without a single pullback from the $2,100 area. This was very overbought and was gearing up towards a brutal crash.
From this move upwards though, ETH formed a local high at $4,200 until it dropped to the 1.0 Fib level at around $2,000.
Now ETH gained the 1.618 Fib level resistance as support at the $2,700 area and is looking like it wants to gain up to the $3,000 level and above.
Going into this month it is going to regain support inside of this upwards channel and continue the move up to newer highs beyond the local high at $4,200.
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🎯 Join my public cryptocurrency trading channel | t.me/easylootcrypto
관련 발행물
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해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.