ETH/USD - Levels To Watch
What's up traders,
Here we are analyzing Ethereum on the 2H chart.
At current price is trading at 690.90, nearly finding support on a side-wards support and 20 and 50 moving average resistance, suggesting a legitimate bearish presence.
Price will now likely test the moving averages and use them as a new resistance level. Coupled with the fact we have the side-wards support that's weak and likely to become resistance, we could see price to downside target of 580.
I am expecting Ethereum to lose some ground now as the trend is having a legitimate turn.
Bare in mind, that I think Cryptocurrency will have an outstanding year, and I think Cryptocurrency as a whoel has the real possibility to outperform this year.
I will update this analysis when I receive above 40 likes.
Here we are analyzing Ethereum on the 2H chart.
At current price is trading at 690.90, nearly finding support on a side-wards support and 20 and 50 moving average resistance, suggesting a legitimate bearish presence.
Price will now likely test the moving averages and use them as a new resistance level. Coupled with the fact we have the side-wards support that's weak and likely to become resistance, we could see price to downside target of 580.
I am expecting Ethereum to lose some ground now as the trend is having a legitimate turn.
Bare in mind, that I think Cryptocurrency will have an outstanding year, and I think Cryptocurrency as a whoel has the real possibility to outperform this year.
I will update this analysis when I receive above 40 likes.
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