Ethereum (ETH): Looking For Proper Support!

30 Des 2024

On a daily timeframe, we are looking for proper support to form on the coin, where the first ideal zone would be near $3,050, which is near the 200EMA line and also marks as some kind of neckline zone for a possible H&S pattern there.

Now ideally this would be the zone we would be looking for the start of DCA, as we might still fall from there towards our second support zone, which will be a much stronger zone from where to bounce off.

This being said, we are still bullish on Ethereum; just a slight correction would be a logical move here, in our opinion!

Swallow Team

31 Des 2024

Catatan

Ethereum is still trading sideways where price has already successfully re-tested the broken EMAs and there are no signs of buying volume as of now.

We still keep on monitoring the EMAs but as long as we are below them and buyers have not secured that zone there, we are looking for further movement to lower zones to happen!

2 Jan

Catatan

Ethereum is heading back towards our bounce zone, where we expect to see a rejection to happen.

Now this is not clear for 100% if we will go to lower zones here but our next point of interest is that zone at $3,550.

Once we reach this zone, we will play according to the market price development, which means if we buyers take over that zone, we will look for upward movement, but if sellers take back the control, we will still look for further moves to lower zones here!

3 Jan

Catatan

Ethereum buyers are trying to break the branch of EMAs where our next point of interest is going to be our bounce zone.

Now ideally we should see a rejection anywhere from now up until that yellow zone, but if buyers dominance increases, we will see a breakout there and a movement towards the $3,800 zone.

So now all we can do is just wait and see how price will react to current zones, with clean breakout or strong rejection...