ETHEREUM → Price can't break the bearish trend. False breakout

26 Okt 2024

ETHUSD is facing selloffs. Technically, ETH is showing weakness on the background of growing sales. Any growth attempts are aggressively sold off. The price continues to test the support, which only increases the chances of a breakdown



Accumulation is narrowing. Ethereum is unable to leave the downtrend. The pressure formed by the bears is only getting stronger. Earlier there was a growth attempt, which became unsuccessful, after a false breakdown of the intermediate resistance 2717. The bears did not let anyone near 2817. On the background of yesterday's fall, associated with bitcoin correction in the 67K - 65K zone, the price tested the consolidation support and is forming a false breakdown.

From October 22: BITCOIN → False Breakout & Bearish Engulfment ↓

If the price does not start active growth, but returns to the support and starts to enter the risk zone, it can provoke the activation of orders and a strong impulse to 2100-1900.

Resistance levels: 2562, 2728, 2764
Support levels: 2392, 2318, 2111

It is not excluded that the price may return to the triangle resistance or 2728, but there are no hints for now. Emphasize on 2562 and 2392, two important zones from which a strong fall can be formed

Rate, share your opinion and questions, let's discuss what's going on with ★ ETHUSDT ;)

Regards R. Linda!

1 Nov 2024

Dagangan aktif

Ethereum - retest of 2728 and activation of a short position.
Bitcoin is pulling back, and ethereum, with its already weak position, can fly down quite quickly