ETHUSDT is going to test the KEY LEVEL!
Ethereum grabbed the liquidity below the 1150$ area where the market has daily support. After that, the price created a clear bell flag below the daily resistance at 1350$ area. As you can see the market created a false breakout inside the daily range. Using the new liquidity the market had a breakout from the previous low and printed a new lower low on the daily support again.
Recently the price creates an ascending channel with HL and LH and a clear breakout with Volume from the previous resistance. Be careful, this breakout occurred during the weekend and usually is not strong.
What's next?
The price is going to retest the key level in the 1350$ area, where the price got several rejections. So we are monitoring the price in that area
- IF the price is going to have a clear breakout with retests, we can apply MTB rules in order to open a new Long position, the next valid target could be in the 1600$ area.
- Otherwise, the price could create a new false breakout and retest the local demand area on 1200$
Recently the price creates an ascending channel with HL and LH and a clear breakout with Volume from the previous resistance. Be careful, this breakout occurred during the weekend and usually is not strong.
What's next?
The price is going to retest the key level in the 1350$ area, where the price got several rejections. So we are monitoring the price in that area
- IF the price is going to have a clear breakout with retests, we can apply MTB rules in order to open a new Long position, the next valid target could be in the 1600$ area.
- Otherwise, the price could create a new false breakout and retest the local demand area on 1200$
Comment:
Breakout, retest and 5%
Comment:
Ether is testing the key level in 1350$ area.
The daily candle close could be very important