ETH - Medium-Term & Long-Term View 🔎

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

on DAILY: Left Chart
ETH is still overall bearish trading inside the falling channel in red.

This week, ETH broke below the 1650.0 support zone, hence we are expecting further bearish movement till the 1500.0 support.

As ETH approaches the 1500.0 support which is intersecting with the lower red trendline, we will be expecting the bulls to kick in.

on H4: Right Chart
In parallel, for the bulls to take over again, we need a break back above the 1620.0 resistance zone.

For now, we wait ⏱

Which scenario do you think is more likely to happen? and why?

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich