Ethereum showing continued weakness at the horizontal support zone, as it trades along the bottom of the zone between 503 and 460. Price at present shows a small green candle, showing bulls have at least acknowledged the support level, and it depends how the candle closes today as to determine whether the current horizontal support level will hold.
Ethereum is looking technically weak after hitting and breaking down consistently since hitting side-wards resistance line on 21 June at 545. I expect price to either close as a green candle today and stay in the first support zone, or, close lower, break below the first horizontal support zone and then go the lower horizontal support zone between 363 and 335.
Bear in mind that despite the current horizontal support zone holding with a bullish harami, I don't really have much faith in it. The breakdown looks strong since hitting the side-wards resistance line and I don't think it will stop this soon.
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Ethereum is looking technically weak after hitting and breaking down consistently since hitting side-wards resistance line on 21 June at 545. I expect price to either close as a green candle today and stay in the first support zone, or, close lower, break below the first horizontal support zone and then go the lower horizontal support zone between 363 and 335.
Bear in mind that despite the current horizontal support zone holding with a bullish harami, I don't really have much faith in it. The breakdown looks strong since hitting the side-wards resistance line and I don't think it will stop this soon.
Leave a LIKE and follow. I would really appreciate it. :-)
