Technical analysis
ETH/USDT
Description
As we see from last couple of days ETH coin was bearish creating a downward momentum to its strong support line at 2850 to 2900.
If we see to 4hr chart its clear indicates that its return from resistance line(symetrical triangles) downward to its support line at 2900
In a systemetic way nearly breaks soon return from support line and will moves towards 3800 after retesting on its new support line
from my perception it will again hit support line to break the triangle.That will be a right time market entry and best oppornuity to go long for ETH.
On sentiment analysis we saw that bitcoin was bearish today.
EMA200 near to intersect.Indicates to create a new upward trend.
This analysis was based on technical and these strong support and resistance lines was drawn from history and its shows the clear market movement.
Note that this analysis is not copied or followed by any other trader.it takes decades to learn and experience in this unpredectable market
just follow my account for more analysis
stay tunned and invest wisely not as a gambler#buythedip #BlackRock #CryptoWatchMay2024 #ethâŹ
