Hello,
ETH should have a big move in the next two weeks with the uptrend formed at the beginning of 2020 and the downtrend formed in November 2021 meeting. Since ETH hit $880 in June it rose to $2000 before coming to the tight current range of $1284 and $1420. It has been sideways movement between the levels but I believe this next move will give a clear indicator if the bottom is in or if there is still room down.
Looking at the local trend since June a pennant has formed (orange) that will ultimately decide the actions seen in the larger pennant.
A break to the upside and a hold of the previous ATH of $1420 would signal the bottom of $880 is the bottom for this cycle. On the other hand, a break to the downside and ETH goes to create a new bottom for the cycle at $680.
Time will tell.
ETH should have a big move in the next two weeks with the uptrend formed at the beginning of 2020 and the downtrend formed in November 2021 meeting. Since ETH hit $880 in June it rose to $2000 before coming to the tight current range of $1284 and $1420. It has been sideways movement between the levels but I believe this next move will give a clear indicator if the bottom is in or if there is still room down.
Looking at the local trend since June a pennant has formed (orange) that will ultimately decide the actions seen in the larger pennant.
A break to the upside and a hold of the previous ATH of $1420 would signal the bottom of $880 is the bottom for this cycle. On the other hand, a break to the downside and ETH goes to create a new bottom for the cycle at $680.
Time will tell.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.