Ethereum Most Important Support Zones - October 2021
Reading high volume nodes during ETH uptrend move, we can see the most valuable zones where we might expect the price to bounce.
The idea about these support zones is very simple, and we can see it after the trend move have happened or is happening.
The institutions that created the current uptrend move have entered (accumulated) their longs positions in the high volume zones we can see in the chart.
Meaning, if the price for any reason starts going down and reach these areas we might expect the price to bounce back (AKA support).
Values are:
- 3500-3600: October POC. Most important zone during October 2021.
- 3100-3250: These zone was where the institutions have accumulated their longs that took the price up to $4300 (Aug/Sep 2021).
- 2300: First accumulation zone in the uptrend impulse from 1900 to 3000. (Jul/Aug 2021)
Hope this is useful for you.
Happy trading!
The idea about these support zones is very simple, and we can see it after the trend move have happened or is happening.
The institutions that created the current uptrend move have entered (accumulated) their longs positions in the high volume zones we can see in the chart.
Meaning, if the price for any reason starts going down and reach these areas we might expect the price to bounce back (AKA support).
Values are:
- 3500-3600: October POC. Most important zone during October 2021.
- 3100-3250: These zone was where the institutions have accumulated their longs that took the price up to $4300 (Aug/Sep 2021).
- 2300: First accumulation zone in the uptrend impulse from 1900 to 3000. (Jul/Aug 2021)
Hope this is useful for you.
Happy trading!
