As we can see Ethereum is facing major resistance upon the Mercury planetary speed line, and therefor having made lower highest and reversing, there is a high change that the reversal area is upon us.
If for some reason Ethereum manages to break through the Mercury resistance lines, then it will make its way to the higher planetary line eventually. As for now, the odds are for a reversal happening soon unless we see some crazy reversal price action.
We also observe the point in the rectangle upon which it touched resistance, as it happening late into the rectangle, that shows us the speed or velocity of price is weak, giving us a greater idea of what is likely to happen.
"Planetary Lines" Indicator by @NasserHumood
If for some reason Ethereum manages to break through the Mercury resistance lines, then it will make its way to the higher planetary line eventually. As for now, the odds are for a reversal happening soon unless we see some crazy reversal price action.
We also observe the point in the rectangle upon which it touched resistance, as it happening late into the rectangle, that shows us the speed or velocity of price is weak, giving us a greater idea of what is likely to happen.
"Planetary Lines" Indicator by @NasserHumood