Andresa30

ETHUSD Key Level

Panjang
COINBASE:ETHUSD   Ethereum
Like to check higher timeframes. The higher the timeframe, the stronger are support and resistance levels. Blue Iines show that price has been sideways from August 18' to March 20'. My interpretation of this chart is that even though price broke support level in asymmetric triangle, volume did not follow breakout. In other words, it could be a false breakout. Also, OBV has a broadening pattern, and this could be a double-edged sword. Volume can increase and confirm breakout, or push price up. 50-SMA is relatively close to 200-SMA. What makes me thing that prices may go up is that price is currently in a monthly demand zone (green box). We will see.

Penafian

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