ETH: WEEKLY EXCLUSIVE UPDATE! BOUNCE INCOMING SOON!!
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Welcome to this ETH weekly update. ETH is continuously falling since April month and we got 10 consecutive red candles in the weekly time frame.
So what we can expect now? A bounce is incoming or do we see more red candles?
Well, I'm expecting a green weekly candle sooner or later. Here's why?
1) Price is forming a falling wedge-like structure in the weekly time frame and slowly heading towards the lower trendline of the wedge. So after touching the lower trendline of the wedge we can expect a good bounce.
2) EMA200 is also in conflict with the lower trendline which gives us more hope of a bounce.
3) RSI is also forming a falling wedge and is currently at the lower trendline.
4) If in any case, it does not hold the ema200 then we might see a fake down move and it might test the previous ATH which is at around the $1400 level.
So by all these possible scenarios, we can expect a reversal soon in ETH, and as you know most of the Alts will follow ETH so we might see a good Altseason soon.
I'm expecting a reversal in the market by late June or mid-July. All we have to do now is patiently wait for the right time to enter in Alts.
This is not a piece of financial advice. This is a possible scenario according to the previous data and some indicators.
What do you think about this?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Welcome to this ETH weekly update. ETH is continuously falling since April month and we got 10 consecutive red candles in the weekly time frame.
So what we can expect now? A bounce is incoming or do we see more red candles?
Well, I'm expecting a green weekly candle sooner or later. Here's why?
1) Price is forming a falling wedge-like structure in the weekly time frame and slowly heading towards the lower trendline of the wedge. So after touching the lower trendline of the wedge we can expect a good bounce.
2) EMA200 is also in conflict with the lower trendline which gives us more hope of a bounce.
3) RSI is also forming a falling wedge and is currently at the lower trendline.
4) If in any case, it does not hold the ema200 then we might see a fake down move and it might test the previous ATH which is at around the $1400 level.
So by all these possible scenarios, we can expect a reversal soon in ETH, and as you know most of the Alts will follow ETH so we might see a good Altseason soon.
I'm expecting a reversal in the market by late June or mid-July. All we have to do now is patiently wait for the right time to enter in Alts.
This is not a piece of financial advice. This is a possible scenario according to the previous data and some indicators.
What do you think about this?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
