It Maybe want to backtest support Zone(Purple color area)
Recently ETH: USD pair slightly uptrent, but fail to challenge previouw high(1397)
It looks like rejected by 20 days EMA (RED)
Small dump on Friday(10/7 '22)
Friday closed above 8 days SMA(blue) and 20 Days SMA(Orange)
Previouse pressure line(RED), now maybe become support line(Blue)
If we draw an uptrend channel, receent price was unable to cross above the channel upper band.
If it want to backtest support line or uptrend channel lower band, then Purple zone maybe is the target.
Note that Sunday dumper maybe will come again. Maybe is another good time to go long.
It looks like rejected by 20 days EMA (RED)
Small dump on Friday(10/7 '22)
Friday closed above 8 days SMA(blue) and 20 Days SMA(Orange)
Previouse pressure line(RED), now maybe become support line(Blue)
If we draw an uptrend channel, receent price was unable to cross above the channel upper band.
If it want to backtest support line or uptrend channel lower band, then Purple zone maybe is the target.
Note that Sunday dumper maybe will come again. Maybe is another good time to go long.
註釋
Falling Wedge
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