ETH/USDT demand and supply zones
Playing around with supply and demand zones based on candle pins and some Elliott waves.
Circled yellow segments show indications of large supply or demand indicating future resistance or support zones.
Market mentality supports at round numbers (i.e. demand at $250 and supply at $400). These also overlay quite nicely over a standard fibo retracement.
Prediction: retrace down to the $250-275 supply zone, rebounding near $250 back to the $350 supply zone.
Staggered buy orders: $250-265.
Target price: $340-350.
Longer term target price: $380-390.
Circled yellow segments show indications of large supply or demand indicating future resistance or support zones.
Market mentality supports at round numbers (i.e. demand at $250 and supply at $400). These also overlay quite nicely over a standard fibo retracement.
Prediction: retrace down to the $250-275 supply zone, rebounding near $250 back to the $350 supply zone.
Staggered buy orders: $250-265.
Target price: $340-350.
Longer term target price: $380-390.
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