ETH Rejects Towards Our Target! Ethereum Crypto TA

In this idea, I'm going to cover the main support/resistance levels for ETH, as well as the calls from my Wave Fusion indicator and where I think we're going from here!

As you can see from the chart above, Wave Fusion called the sell on ETH perfectly (blood moon) on the 1h chart and called the relief bounce (moon symbol) as well.

We had ETH in a horizontal channel and once it broke out, it started heading towards our target of 1229. Now we can see a downwards trend as formed (red diagonal line) that's been rejected multiple times.

The current resistance for ETH is now between that downward trend line and the bottom of the horizontal resistance channel (1260-1270). If we can break above these levels, I strongly belief we can reach the top of the channel at 1300 and will be well on our way to the top resistance of 1367. If we reject at those levels, my target will still stand at 1229. If we break below that, then unfortunately my next target is 1150 (strong support).

If you have any questions about my TA or the indicators I use, please comment below or send me a DM :)