It is positive that around the 3,506 level that I shared before worked as support and strengthens the S-R flip zone here.
There is no serious resistance area other than 3,987 before the new #ATH
Daily closings are required above here for a few days.
If this level is broken and the daily candle body closing remains below it, it will be short-term negative and a correction can be seen up to the red descending resistance line and the small green box below it.
A closing below 3,506 will be a sign of weakness in all kinds of ways and can be boring for a while for altcoins, especially $ETH and #ethereum betas. In my personal opinion, I do not see any reason for this to happen and I expect the movement above 3,987 from here to come and accelerate soon.
I have marked the areas where I expect resistance to be encountered above (i.e. you can also think of it as profit taking levels). As always, the red ranges and solid thick lines are major areas that can be strong, and the dashed lines are levels that I expect to work as intermediate resistance levels.
Hey! 馃憖
Unlike my social media posts, in addition to majors, here I'm planning to analyze your #altcoins with medium and low market caps too! I'll provide mid-to-long term price targets for the bull season. 馃敟If you are interested in, don't forget to follow and share in the comments the #altcoins you are interested in! 馃憡
