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ETH at the crossroads❌

アップデート済

Ethereum just dropped to strong support level 2780-2650. It's confluence of trendlines and market structure. Let's see if it holds. If not another support is 2050-1950.

ETHBTC also at long-term uptrendline support.

I rather expect bounce than breakdown.

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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.

ノート

Price went through the 2780-2650 zone (former support, now resistance) and trendlines confluence like hot knife through butter. Getting back above them would be bullish🐂

ノート

Price backtested the previously broken uptrendline (yellow) and got rejected. Let's see if the lower edge of the falling wedge (changed color to orange) will provide any support.

ノート

So the lower edge of the falling wedge (orange) served as launchapad and ETH tried to break up once again and suceeded - price just closed back above the yellow uptrendline and that 2780-2650 resistance (now support). Next hurdle being the upper edge of the falling wedge (orange), strong resistance expected. Price to range between these levels?