LegionQ8

Ethereum can reach resistance line and then rebound down from it

Short
BINANCE:ETHUSDT   Ethereum / TetherUS
Hello traders, I want share with you my opinion about Ethereum. By observing the chart, we can see that the price a few time ago started to trades in an upward channel, where it at once rebounded from the support line and rose higher than the 2030 support level, which coincided with the buyer zone, breaking this level. After this, ETH in a short time declined to support line of the channel, after which it rebounded and made a strong impulse up to the resistance line, breaking the 2030 level again. Then price turned around from the resistance line and made little correction, after which ETH continued to move up to the current support level, which coincided with the support area. When Ethereum reached this level, it rebounded and made a correction to the support line of the channel, after which the price bounced and made a strong upward impulse to 2720 points, thereby breaking the 2400 support level and exiting from the upward channel. After this, the price in a short time declined below the resistance line, thereby making a fake breakout and now it trades below. In my mind, Ethereum can grow to a resistance line, after which the price will bounce and start to decline to the 2400 support level, therefore I set my target at this level. Please share this idea with your friends and click Boost 🚀

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