Ethereum (ETH): Failed To Form Break of Structure!

15 Okt 2024

After a big volume push on yesterday's daily candle, we see that price had a turnover near the BoS zone (where again we failed to form the break of structure).

We are looking here for a for a daily candle to secure in red, which would show the dominance of sellers and a possible move to the lower support zone, but we also keep an eye on that upper resistance zone and a possible formation of BoS (if we see it, we will see a good upward movement)!

Swallow Team

15 Okt 2024

Nota

Ethereum is re-testing the broken middle zone, where last time it resulted in a further movement towards the resistance zone.

Although it is a little early to say we are looking for price to break that smaller trend here (or at least a touch).

For a perfect entry, we will be waiting for price to move to upper zones and then we will start to look for some kind of weakness so let's see!

16 Okt 2024

Nota

Buyers are still showing dominance after breaking the resistance, where now there is a possibility of reaching an upper resistance zone for a smaller re-test after what we want to see: a rejection and a move to the bullish trend line.

17 Okt 2024

Nota

Ethereum is still hovering above the broken zone where we see that price is yet to decide where to move.

Each push gets supressed by sellers and each dump gets supressed by buyers so we need to see and wait.

For us to see a downward movement from the current zone, we need to manage and move towards the EMAs in the next 24-36 hours; otherwise, there is a high likelihood of the upper zone being touched and only then a movement to the lower zones to start!

18 Okt 2024

Nota

Ethereum is still trading sideways tuned after breaking a local resistance zone, which now has turned into a support zone (after a successful re-test).

We are now waiting for a test of upper resistance to happen near $2,750 or another test of upport at $2,550, where we will be looking for a rejection or a breakdown so for now we wait for clarity here!