P_S_trade

ETH. Now a critical point!

Long
BITFINEX:ETHUSD   Ethereum
Critical point for ether.
After the sellers broke the price range of $ 450-480, ETH fell practically without correction. even a strong mirror level of $ 385 could not stop the fall. But why? If you look at the history of ETH, there have never been volumes at this level. It was more of a psychological level, which once drew. The entire volume, which was at this level, is a consolidation lasting 2 weeks from March 18, 2018. Of course, there is little to stop such a fall. Therefore, the price stopped in the price zone of $ 280-310, which I predicted in the previous idea. In my opinion, this is the critical point of this coin:
 1) $ 280-310 was a good support before the air flew up in November 2017 to $ 1,420.
2) In the past, in this price zone, the position was around 3.5 months
3) Volumes on the air increased in this price zone.

Therefore, it is highly probable that a good upward movement should begin with this zone.
If buyers can break through $ 440-480 - this will confirm the strength of buyers and the continuation of a strong upward movement, where the first stop is $ 710.
 But if buyers do not keep this price zone - I'm not sure that $ 200-220 will be able to stop the fall. And if the fall is stopped in this price zone, then it will take a lot of time and volume to see the growth of the ETH.

🎁 -10% on ALL trading fees OKX
www.okx.com/join/10pstrade

🔥V-I-P cutt.ly/PwkLhT56

👍Crypto activities and free💲 cutt.ly/0w9VqL2X

🔵Telegram t.me/pstrade_eng
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.