Update on $ETH as of November 2.
Currently, $ETH has tested the EMA99 line twice but has been rejected both times. Through MACD analysis, I see that investors are still actively accumulating.
On the daily chart, there is a strong support zone, and at the same time, two resistance zones appear when the price breaks through the accumulation range. In my opinion, theoretically, the price might return to the range from 2k to 2180 or there may be sweeps to attract liquidity — this is often favored by long-term investors.
However, based on my experience, when the sellers have gained the upper hand, we will witness many price drops. The scenario I predict will include a fake breakout in the accumulation range, followed by clusters of candles or very low trading volume. After that, the price may test the EMA line once more, with the possibility of capital flowing into the order block for testing.
Still holding the view to TP2, everyone! This is just my personal opinion, not an investment advice. Wish everyone good luck.
Brothers, follow me for updates, okay?
