RLinda ! ETHUSD-> Bears show strength. What to expect?

11 Okt 2022

ETHUSDT is in the phase of continuation of the global trend.
The descending price channel is forming and there are new preconditions to the fact that the fall may continue. Let's look into it:

• Last weekend we saw the biggest surge in new addresses for 2022. Within days, the number of new addresses appearing on the network reached 135,780, an 11.1% increase.

• At the end of those days, not only did ETH quotes not rise, which many expected as a reaction, but they collapsed by 3%. If you compare the current surge to those before it, the network's reaction has always been accompanied by a 10% to 15% increase.

• Ethereum has fallen below support at $1279.75. The second flagship crypto-asset is showing bearish signs, and there is a risk of a strong price decline down to 1050 and even worth considering the 2021 - 2022 global low: $881.56 liquidity zone

ETHUSDT forms a price channel that coincides with the global trend

• - The price breaks through a strong support level of 1280
  
• - A Triangle pattern is forming on the local chart. At the moment, the support of the pattern is being broken
  
• -Price is trading below MA200 and MA50
  

• On the local chart, we can see the formation of the pattern "triangle" and an attempt by the price to break the support level.
  This maneuver already indicates the mood of the market to continue its downward fall.
  
• I expect a breakdown of the triangle support and a breakdown of the strong support level at 1279.75 and a continuation of the downfall in the direction of the global trend. The short-term target is support at 1018

Regards R. Linda!

11 Okt 2022

Trade aktif

On the local timeframe, the price breaks the support of this correction. The price begins to fall. Important levels are 1287, 1279