Etherium Rising Towards Sell Area, Watch Buy Area For Reversal
The rise that began after the price fell into the buy area yesterday evening has continued today.
After the large spike the price continued to rise until it reached the sell area created by the drop on the 8th November. After a small drop (red arrow) took place from the area another rise began, but this ended soon after with the appearance of a reversal candlestick(black arrow). The candlestick caused the price to fall into a small buy area (not marked) created at the beginning of the rise into the sell area, where it then reversed and started moving higher again.
The price is now moving back to the sell area in a strong fashion, suggesting we could see it move deeper into the area later on tonight.
The point to watch for a reversal is the small area I've marked.
A drop into this area could take place either before the price moves back into the sell area or after it's reached it and reversed.
In any case, monitor the area for signs of a reversal.
After the large spike the price continued to rise until it reached the sell area created by the drop on the 8th November. After a small drop (red arrow) took place from the area another rise began, but this ended soon after with the appearance of a reversal candlestick(black arrow). The candlestick caused the price to fall into a small buy area (not marked) created at the beginning of the rise into the sell area, where it then reversed and started moving higher again.
The price is now moving back to the sell area in a strong fashion, suggesting we could see it move deeper into the area later on tonight.
The point to watch for a reversal is the small area I've marked.
A drop into this area could take place either before the price moves back into the sell area or after it's reached it and reversed.
In any case, monitor the area for signs of a reversal.