jackrabbitrage

ETH's support levels- analysis based on Gann Squre and arcs

Short
COINBASE:ETHUSD   Ethereum

With the Etherium merge complete, the predicted dump might be incoming.
TA-wise, Gann square played out perfectly and still indicates support levels that could be relied upon based on the previous prediction result.

Watch Gann Fan* 1 x 3 (green) if the price further goes down through the crosspoint of the arcs.
Because significant support lines are absent immediately below, It seems prices like 1256, 1189, and 1123 aren't so far-fetched if a stronger sellout takes place.
The intersections of Gann Fan with Fibonacci levels would provide solid support.

Shaded aqua-colored zones also indicate S & R like Ichimoku cloud, based on my previous observation.

* A component of Gann Square. I emphasized it with a different (green) color.
Comment:
H1 magnification.

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.