Hello, dear subscribers!
Today we are going to consider two possible scenarios for the Ethereum.
Background
The ascending triangle was broken through and the price found the resistance at the $1290 price level. After that the price bounced off this level and broke down the trendline support. The price drop was until the support level of ascending triangle higher band was reached. The next step was the attempt to re-enter above the trendline but there was a rejection. As a result now we have two possible scenarios.
Scenario 1
If the price be able to find support above the resistance line and re-enter above the trendline, we can see a massive price growth.
Scenario 2
This is a negative scenario. If the price break down the support line we can see the price drop to the CPR level, because this is the most powerful support level below the current support.
Today we are going to consider two possible scenarios for the Ethereum.
Background
The ascending triangle was broken through and the price found the resistance at the $1290 price level. After that the price bounced off this level and broke down the trendline support. The price drop was until the support level of ascending triangle higher band was reached. The next step was the attempt to re-enter above the trendline but there was a rejection. As a result now we have two possible scenarios.
Scenario 1
If the price be able to find support above the resistance line and re-enter above the trendline, we can see a massive price growth.
Scenario 2
This is a negative scenario. If the price break down the support line we can see the price drop to the CPR level, because this is the most powerful support level below the current support.
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