Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe Ethereum just recently perfectly retested and also rejected a quite obvious previous weekly resistance area which was turned resistance once again.
You can also see that we are currently retesting weekly support and it seems like the market will close this week's candle with a quite bullish rejection wick, so from a weekly perspective we can still see more continuation towards the upside.
On the daily timeframe however you can see that market structure is bearish, so I am now just waiting for a break above the $1500 resistance area and if we then get a retest and bullish confirmation, the daily timeframe also looks quite promising for a next impulse towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe Ethereum just recently perfectly retested and also rejected a quite obvious previous weekly resistance area which was turned resistance once again.
You can also see that we are currently retesting weekly support and it seems like the market will close this week's candle with a quite bullish rejection wick, so from a weekly perspective we can still see more continuation towards the upside.
On the daily timeframe however you can see that market structure is bearish, so I am now just waiting for a break above the $1500 resistance area and if we then get a retest and bullish confirmation, the daily timeframe also looks quite promising for a next impulse towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
