Fast update ETH
A very simple chart, useful for understanding how to trade in the short term by capitalising on deviations.
Ethereum first deviated below the range low, immediately recovering to that level and creating a buying opportunity. It has now broken above the range high and is attempting to consolidate above the previous resistance level.
As long as ETH remains above $2,500, the structure remains positive and we can expect the uptrend to continue, particularly following any retests or deviations below that level followed by a rapid recovery.
If, on the other hand, it falls below $2,500 and fails to recover, the likelihood of a new bearish consolidation increases, with a possible return towards the lower end of the range.
A very simple chart, useful for understanding how to trade in the short term by capitalising on deviations.
Ethereum first deviated below the range low, immediately recovering to that level and creating a buying opportunity. It has now broken above the range high and is attempting to consolidate above the previous resistance level.
As long as ETH remains above $2,500, the structure remains positive and we can expect the uptrend to continue, particularly following any retests or deviations below that level followed by a rapid recovery.
If, on the other hand, it falls below $2,500 and fails to recover, the likelihood of a new bearish consolidation increases, with a possible return towards the lower end of the range.
