Crypto-Follow logo Crypto-Follow logo
Cryptoknowmics 2022-03-07 10:33:31

ETH Technical Analysis: On The Verge Of Collapse To $1700

The good chance of buyers during the week of 28 February to push the ETH price from the bottom trend line ended sadly. For the second week in a row, sellers manage to close the weekly candle below the opening price. At the moment, buyers are ready to fight below $2600, and sellers are ready to fight above $2600. Therefore, in the best-case scenario, the ETH market may consolidate in the range of $2400-$3200 in the coming weeks. https://www.tradingview.com/x/0AJxDf0S/ The weekly timeframe shows the ETH price is moving in the range of the trend line, which is the last buyers’ support to form a growth wave to $3860. From this mark, another fall wave with the first target of $1700 will most likely begin. However, even for such a locally positive scenario, buyers should close the weekly candle from 7 March above the $2600 mark. In this case, next Monday you can consider the ETH cryptocurrency for investment with a prospect of growth of 40% up. Technical Analysis Of ETH On The Daily Timeframe https://www.tradingview.com/x/Tc73xo1e/ If you look closely at the consolidation of the ETH cryptocurrency in the daily timeframe, you can see how the price reaches an important local range of $2400-$2470. Why is this range so important? In the period from 21 to 28 January in this range, buyers began to slow down a powerful fall wave and eventually stopped it. So we see false breakdowns in the $2400-$2470 range during this period. However, all ...

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer