ETH Signs of growth
Since Ethereum quickly went down and many people began to panic, I decided to put the idea on the daily time frame and maybe calm you down.
The main levels:
298 - is the global resistance level.
222 - is a strong resistance level, which was tested 3 times in 2018 and 2019. The level is strong, but the more touches, the weaker it becomes, so maybe 4 testing will be final for this level.
193 - local resistance level, which was actively tested in the downward channel. There is interest in fixing the price above.
164 - this is a local support level, this level was resistance at the end of 2018 and at the beginning of 2019. In the downward channel, it is actively supporting, but the price has broken through this level.
134 - a fairly strong level of support, above which the price is now. If the price is fixed above it, then there will be a reason for growth to 164.
105 - strong support level. But the probability of lowering the price to this level is very small.
85 - a global level of support, to which the price is unlikely to come down, but this level must be taken into account.
What to expect:
The decrease after the flat from 193 - 164 occurs within the limits of the norm, since the initial movement before the flat was lower, and the subsequent movement should have been negative, that is, falling (which happened). Since the price went down, this is not for growth very well.
Recently, movements have been taking place in a downward channel, in which yesterday the price almost tested the downward side of the channel and tested the support level of 134. When the price is fixed above it, there will likely be an increase to 164. The next time you retest the level 164 and fix above it, there will be a steady increase ( since there is an active liquidity zone).
But do not forget that the price can break through 134. If the price can be fixed below this level, there will be a breakdown of the channel and the price will drop to 130-120. After which it is desirable to see consolidation and then growth.
Indicators:
-CCI shows the picture at 2 bottom. Today, the moment of breaking through the level of -100 from bottom to top is forming, for small growth this is good.
-MAs show a bearish trend. MA 28 above MA 14 and, accordingly, above the graph. Since they are moving purely down, this indicates a decrease.
Conclusion:
Breaking the trend line (red line) will be a sure sign of growth. Since all factors from level 164 hint at growth, it is worth preparing for a price increase if the price reaches this level.
If the price does not manage to break through the level of 164, then it is worth waiting for consolidation.
The main levels:
298 - is the global resistance level.
222 - is a strong resistance level, which was tested 3 times in 2018 and 2019. The level is strong, but the more touches, the weaker it becomes, so maybe 4 testing will be final for this level.
193 - local resistance level, which was actively tested in the downward channel. There is interest in fixing the price above.
164 - this is a local support level, this level was resistance at the end of 2018 and at the beginning of 2019. In the downward channel, it is actively supporting, but the price has broken through this level.
134 - a fairly strong level of support, above which the price is now. If the price is fixed above it, then there will be a reason for growth to 164.
105 - strong support level. But the probability of lowering the price to this level is very small.
85 - a global level of support, to which the price is unlikely to come down, but this level must be taken into account.
What to expect:
The decrease after the flat from 193 - 164 occurs within the limits of the norm, since the initial movement before the flat was lower, and the subsequent movement should have been negative, that is, falling (which happened). Since the price went down, this is not for growth very well.
Recently, movements have been taking place in a downward channel, in which yesterday the price almost tested the downward side of the channel and tested the support level of 134. When the price is fixed above it, there will likely be an increase to 164. The next time you retest the level 164 and fix above it, there will be a steady increase ( since there is an active liquidity zone).
But do not forget that the price can break through 134. If the price can be fixed below this level, there will be a breakdown of the channel and the price will drop to 130-120. After which it is desirable to see consolidation and then growth.
Indicators:
-CCI shows the picture at 2 bottom. Today, the moment of breaking through the level of -100 from bottom to top is forming, for small growth this is good.
-MAs show a bearish trend. MA 28 above MA 14 and, accordingly, above the graph. Since they are moving purely down, this indicates a decrease.
Conclusion:
Breaking the trend line (red line) will be a sure sign of growth. Since all factors from level 164 hint at growth, it is worth preparing for a price increase if the price reaches this level.
If the price does not manage to break through the level of 164, then it is worth waiting for consolidation.
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.