Etherum (ETHUSD) supply and demand levels : weekly chart 10/5
Good afternoon traders,
Today I am looking at the supply and demand levels for the most recent ethereum uptrend since its low in 2020 (~88.18). I am NOT a financial advisor, this is simply for entertainment/educational purposes: TRADE AT YOUR OWN RISK.
2020 Low of 88.18 (~3/9/20)---> the following two candles we see the DEMAND AREA being formed between (A 118.63) and (B 123.01) The total demand are is thus 4.38
-----> Trend then reaches a high of around 486.09 around late August,
--------->where price consolidates between 329.96 and 422.97 (92.95 area of consolidation)
From there, uptrend from 11/20 until 2/21, where it consolidates until ~3/21
------>Creates a important level which later will become a demand zone. The uptrend continues until 5/21. High of ~4458
Consolidation occurs from may until appx. 7/19/2021
------> The wicks from the downtrends are seen entering the zone created from the 3/21 consolidation creating a nice demand zone
Supply is reached again, for a resistance level of ~3980.97
Please like and let me know your thoughts! Have a great day traders
Today I am looking at the supply and demand levels for the most recent ethereum uptrend since its low in 2020 (~88.18). I am NOT a financial advisor, this is simply for entertainment/educational purposes: TRADE AT YOUR OWN RISK.
2020 Low of 88.18 (~3/9/20)---> the following two candles we see the DEMAND AREA being formed between (A 118.63) and (B 123.01) The total demand are is thus 4.38
-----> Trend then reaches a high of around 486.09 around late August,
--------->where price consolidates between 329.96 and 422.97 (92.95 area of consolidation)
From there, uptrend from 11/20 until 2/21, where it consolidates until ~3/21
------>Creates a important level which later will become a demand zone. The uptrend continues until 5/21. High of ~4458
Consolidation occurs from may until appx. 7/19/2021
------> The wicks from the downtrends are seen entering the zone created from the 3/21 consolidation creating a nice demand zone
Supply is reached again, for a resistance level of ~3980.97
Please like and let me know your thoughts! Have a great day traders
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