it's time to keep your eyes on the ETH

Hello traders 🐺 .

as you already seen on the title , it's time to keep your eyes on the ETH , but why I say that ?

if you remember in the last weeks , I published an idea about the ETH and in that idea , I say that the ETH is on the decision zone and after that ETH start to rise and supported by the weekly support channel , you can find that idea in the Related link down below this idea ; but now it's time to talk about the current ETH situation and possible movements for the ETH :

let's start with the 3days chart :


in the 3days chart we can see ETH found support from the weekly ascending channel and also inside of this big weekly ascending channel , we have short term descending channel which is currently ETH trading inside it and in my opinion there is strong chance for the ETH to see a break out from it because if you look at the RSI you can see that RSI breaking the resistance trend line but in the price we haven't seen such this thing yet . but as you can see already ETH is below the daily resistance structure and the overall trend in the daily time frame is still bearish .

but if ETH finally will succeed to break this descending channel , which price target we can expect for the ETH ?


in my opinion this is very look like a AB=CD pattern and after reaching the price target of this AB=CD , we could expect another bearish movement for the ETH , because in that area , ETH will face a very strong supply area and the big market operator start to close their long positions and looking for possible short position and wait for the lower price to buy ETH .

Thank you guys for reading my idea , also don't forget to like my ideas and follow me for more support🙏 .