Hello, dear subscribers!
Let's consider the ETH price movement analysis. Today we will talk about two interesting scenarios.
The main scenario for the ETH is the bullish one (green line). The price now is in the ascending trend channel and more globally there is an uptrend for ETH too. If the price will break through above the ascending trend channel it reach the R2 level of $680. This R2 level coincides with the 3-year 0.5 Fibonacci level and the global 3-year resistance. As a result we can see the difficulties for the price to break through this level. But if it occurs we can see a massive price growth.
We should be very careful for the bearish(white line) scenario. If the price reach the R1 level we can see the price pullback to the target 1 or target 2 areas. But if the price reach the R2 level this negative scenario is canceled.
P.S. The price now is trying to brake the ascending trend channel but we should receive the confirmation that it is not fake.
Let's consider the ETH price movement analysis. Today we will talk about two interesting scenarios.
The main scenario for the ETH is the bullish one (green line). The price now is in the ascending trend channel and more globally there is an uptrend for ETH too. If the price will break through above the ascending trend channel it reach the R2 level of $680. This R2 level coincides with the 3-year 0.5 Fibonacci level and the global 3-year resistance. As a result we can see the difficulties for the price to break through this level. But if it occurs we can see a massive price growth.
We should be very careful for the bearish(white line) scenario. If the price reach the R1 level we can see the price pullback to the target 1 or target 2 areas. But if the price reach the R2 level this negative scenario is canceled.
P.S. The price now is trying to brake the ascending trend channel but we should receive the confirmation that it is not fake.
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