Ethereum Attempting to Reclaim Support
The 3 day chart makes it pretty clear that Ethereum lost support of the previous ATH before the parabolic rally, but it has bounced back above and will attempt to hold it as support.
This is confluent with the Rising Wedge target, so shorts will be taking profits here which means there should be extra help for a bounce.
We need to see decent volume indicating absorption of supply, as well as preferably closing the 3 day on or above the 618 fib from this small move up.
This is confluent with the Rising Wedge target, so shorts will be taking profits here which means there should be extra help for a bounce.
We need to see decent volume indicating absorption of supply, as well as preferably closing the 3 day on or above the 618 fib from this small move up.
Comment:
Would also be a H&S fakeout, which is very bullish.