Ethereum: Bearish Signals and 360$ as the Key Support
If we look at the daily chart of Ethereum, we will see a possible trend reversal structure. The price bounced from 450USD resistance. The sellers are in control of the price today as well. We have a strong trend reversal signal based on a double bearish divergence. DMI is bullish, but ADX line is moving down. It is a signal that the buyers are not active, and they don't have the power to push the price upward. RSI and MACD are bearish.
I won't be surprised if the price reaches the support zone at 360USD again. The price action in that zone will be very important for the market. The reversal will give a good buying opportunity. The breakout will push the price toward the next support zone at 300USD.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
I won't be surprised if the price reaches the support zone at 360USD again. The price action in that zone will be very important for the market. The reversal will give a good buying opportunity. The breakout will push the price toward the next support zone at 300USD.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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