Price Charts and Technical Analysis
The ETH/USD is unable to break back above the 21 ema zone, which is a bad sign for the bulls. The previous uptrend was strong but the bears are likely to push price action below the long-term support trend line (purple). A breakout below that line and the previous bottom favours a further drop towards the next two support zones (green boxes). The first support zone is a confluence with the previous top, -27.2% Fibonacci target and the 50% Fibonacci level. The second support zone is the previous sideways zone, the -61.8% Fibonacci target and the 61.8% Fibonacci retracement level.
The bearish pressure is even more visible on the 4 hour chart. The red candles from our EW software confirm bearishness and price action is now clearly below the long-term moving averages. A break and pullback followed by another break lower is expected (see arrows). The wave patterns suggest a bearish ABC (purple) pattern. The ABC could complete a wave 1-2 (grey) on the daily chart.
Price Charts and Technical Analysis
The ETH/USD is unable to break back above the 21 ema zone, which is a bad sign for the bulls. The previous uptrend was strong but the bears are likely to push price action below the long-term support trend line (purple). A breakout below that line and the previous bottom favours a further drop towards the next two support zones (green boxes). The first support zone is a confluence with the previous top, -27.2% Fibonacci target and the 50% Fibonacci level. The second support zone is the previous sideways zone, the -61.8% Fibonacci target and the 61.8% Fibonacci retracement level.
The bearish pressure is even more visible on the 4 hour chart. The red candles from our EW software confirm bearishness and price action is now clearly below the long-term moving averages. A break and pullback followed by another break lower is expected (see arrows). The wave patterns suggest a bearish ABC (purple) pattern. The ABC could complete a wave 1-2 (grey) on the daily chart.
Reprinted from Fxempire，the copyright all reserved by the original author.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.