$ETH LEVELS I’M WATCHING! PAY CLOSE ATTENTION
#Ethereum broke out of the channel we identified and pulled back. After rebounding from the lower band, it returned to its downward trend.
Here’s what I expect next: It won’t be able to break out of this channel quickly and will likely trade within a range. Since the channel is downward-sloping, each low could be lower than the previous one.
Additionally, the first support zone is the $1,870 level shown in the chart. I expect a drop to this level initially.
However, if the lower band is broken to the upside, we could see a move above the channel. Therefore, mark these areas on your chart and set separate alerts for each one!
#Ethereum broke out of the channel we identified and pulled back. After rebounding from the lower band, it returned to its downward trend.
Here’s what I expect next: It won’t be able to break out of this channel quickly and will likely trade within a range. Since the channel is downward-sloping, each low could be lower than the previous one.
Additionally, the first support zone is the $1,870 level shown in the chart. I expect a drop to this level initially.
However, if the lower band is broken to the upside, we could see a move above the channel. Therefore, mark these areas on your chart and set separate alerts for each one!
