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Possible Bullish Scenarios on ETHEREUM (ETH/USD)
4H CHART EXPLANATION:
At this moment price is facing a support zone (previous resistance zone) that holded the price many times before breaking upwards. So, it is a nice reversal point for Ethereum, and to place a long trade it would be safe to wait for a price action confirmation such a candlestich pattern.
In case this level can not hold the price correctly, we expect another downside movement towards the lower Support Zone at 230-240 and a bounce from there.
MULTI TIMEFRAME VISION:
-Daily:
-Weekly:
At this moment price is facing a support zone (previous resistance zone) that holded the price many times before breaking upwards. So, it is a nice reversal point for Ethereum, and to place a long trade it would be safe to wait for a price action confirmation such a candlestich pattern.
In case this level can not hold the price correctly, we expect another downside movement towards the lower Support Zone at 230-240 and a bounce from there.
MULTI TIMEFRAME VISION:
-Daily:
-Weekly:
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