Ethereum is in the wide balance with a range 250.50-319.60. Downward movement was completed by fixing. After that the price jumped to last POC (319.59) where it met the sellers.
Further the price has made a retest of fixing (264.04). At this point, we certainty noted that the price forms a new balance for the new accumulation.
What next? The price was rotating in a narrow range 268.82 and 283.22. Please note that the borders of this range were formed by the POC's levels. At the moment, we note that the price has left this range and goes up. That means that intraday chart shows a buy priority.
Glossary of terms
Further the price has made a retest of fixing (264.04). At this point, we certainty noted that the price forms a new balance for the new accumulation.
What next? The price was rotating in a narrow range 268.82 and 283.22. Please note that the borders of this range were formed by the POC's levels. At the moment, we note that the price has left this range and goes up. That means that intraday chart shows a buy priority.
Glossary of terms
- Point of Control (P O C) – The price level for the time period with the highest traded volume .
- Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
- Balance - Accumulation Area.
- F L - flat level.
- T L - trend level.
- Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 1-3 fixing movement.