Resistance should be turned into support!
Hello to all members of TradingView and my followers.
Yesterday, Ethereum continued its range trend in the resistance range of 1088 to 1100 dollars, and the support of 1030 to 1040 dollars recorded its fluctuations. Buying and selling pressure is high on both sides of this support range.
The volume of transactions in this range has decreased significantly. Although the downward trend line has broken upwards, the buyers' attempts to break the $1100 resistance have been unsuccessful.
Therefore, until the desired resistance becomes the support for the coming week, we can expect the continuation of the range trend. Also, the main support is in the $1000 range, and given that it is an important number, it is a valid range to trade. Of course, it may have sharp and momentary fluctuations due to strong price fluctuations up to the $955 range, and then the upward movement will begin.
A close below the $1,000 level might spark a sharp decline. In the stated scenario, ether price may slide towards the $925 level. Any more losses could send the price towards the $880 support zone.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know. Respectfully.
Yesterday, Ethereum continued its range trend in the resistance range of 1088 to 1100 dollars, and the support of 1030 to 1040 dollars recorded its fluctuations. Buying and selling pressure is high on both sides of this support range.
The volume of transactions in this range has decreased significantly. Although the downward trend line has broken upwards, the buyers' attempts to break the $1100 resistance have been unsuccessful.
Therefore, until the desired resistance becomes the support for the coming week, we can expect the continuation of the range trend. Also, the main support is in the $1000 range, and given that it is an important number, it is a valid range to trade. Of course, it may have sharp and momentary fluctuations due to strong price fluctuations up to the $955 range, and then the upward movement will begin.
A close below the $1,000 level might spark a sharp decline. In the stated scenario, ether price may slide towards the $925 level. Any more losses could send the price towards the $880 support zone.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know. Respectfully.
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