Hello guys,
ETHUSD is arriving to an interesting level that is to the lower dinamic trend line, sustaining the long term movement, passing around $430/$440.
ETHUSD is in a big triangle, as we can see from the chart and the first contact with the lower trend line could contain the sellers pressure.
In case of breaking of $430/$440 area it can fall to $380/$400 area: if also this area can't stem the sellers pressure it could reach $300 area.
On the other side, if it is able to rebound from the supportive area previously indicated, it can come back to $500 and then to $600, where it finds the upper
trend line of the triangle, rapresenting a resistance area.
All indicators point out important weakness.
As a complement to the technical analisys we prepared this free report, clarifing qualitative and technical aspects of Ethereum:
www.blackswangate.com/report
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
ETHUSD is arriving to an interesting level that is to the lower dinamic trend line, sustaining the long term movement, passing around $430/$440.
ETHUSD is in a big triangle, as we can see from the chart and the first contact with the lower trend line could contain the sellers pressure.
In case of breaking of $430/$440 area it can fall to $380/$400 area: if also this area can't stem the sellers pressure it could reach $300 area.
On the other side, if it is able to rebound from the supportive area previously indicated, it can come back to $500 and then to $600, where it finds the upper
trend line of the triangle, rapresenting a resistance area.
All indicators point out important weakness.
As a complement to the technical analisys we prepared this free report, clarifing qualitative and technical aspects of Ethereum:
www.blackswangate.com/report
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***