#ETH retests the support channel, can it hold?

6 Mei

📊#ETH retests the support channel, can it hold?

🧠From a structural point of view, the highs are gradually falling, and the bullish potential is weakening. We can only usher in a surge after we strongly break through the suppression of the blue downward trend line and stabilize the 4h blue resistance zone, and the resistance zone turns into a support zone.

➡️This is the fourth time we have tested the support near 1750. If the support is tested multiple times, the support effect will weaken. We should be wary of further callbacks after breaking the support, so if we want to participate in new long transactions, we need to find lower support, so the support points worth our attention are around 1660 and 1570.

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7 hari lalu

Nota

#ETH Update:

We tested the support channel and stabilized and rebounded, and quickly broke through the suppression of the downward trend line, and the blue resistance area turned into a support area. If we really want to continue to break upward, then we will not have the opportunity to pull back further. So we need to observe the stabilization of the upper edge of the yellow support area to participate in long transactions, otherwise continue to wait patiently.

Or we do not make a pullback, but consolidate sideways to form an ascending triangle model and continue to rise. At this time, we need to observe the situation of breaking through the upper edge of the triangle to participate in long transactions.

At present, we will observe these two possible development scenarios. If a scenario that meets expectations appears, we will participate in the transaction. If there is no scenario that meets expectations, then continue to be patient and wait for new trading expectations to appear before entering a new transaction.

The lowest price has not reached 1750, so if you still hold a long order at 1750, then continue to hold patiently and wait for the target of 2000+