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Hello everyone,
ETHUSDT is currently holding on to a long-standing trendline that has provided consistent support over time. The price has bounced off this trendline multiple times, but the recent repeated dips to $2093 and $2150 have created a scenario where further pressure could potentially lead to a break below this support. The significant drop in volume raises concerns about a possible downward move. For ETH to avoid breaking this key support, it would need to rally and break and give weekly closing above the resistance level at $2535, which could signal a reversal of the current downtrend.
If the trendline breaks, the below support zones will likely come into play.
Upper support zone:
SUPPORT ZONE= $1695 to $1827
Lower support zone:
SUPPORT ZONE= $1274 to $1371
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Hello everyone,
ETHUSDT is currently holding on to a long-standing trendline that has provided consistent support over time. The price has bounced off this trendline multiple times, but the recent repeated dips to $2093 and $2150 have created a scenario where further pressure could potentially lead to a break below this support. The significant drop in volume raises concerns about a possible downward move. For ETH to avoid breaking this key support, it would need to rally and break and give weekly closing above the resistance level at $2535, which could signal a reversal of the current downtrend.
If the trendline breaks, the below support zones will likely come into play.
Upper support zone:
SUPPORT ZONE= $1695 to $1827
Lower support zone:
SUPPORT ZONE= $1274 to $1371
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
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