Ethereum continues to form an uptrend both on the high timeframe and on the low timeframe.
At the moment, the current setup on the market is an uptrending channel.
ETH is in the phase of testing trend support. After a false breakdown, a small rebound and retest of the support is formed.
In the zone of 2188 - 2128 there is a liquidity zone, (rlinda . com) which the market can test in the format of a false breakdown before further growth.
I have highlighted two possible scenarios on the chart:
1) Retest of the mentioned support area before further growth
2) Retest of the triangle resistance with the subsequent breakout of its upper boundary and formation of a bullish impulse.
At the moment, the current setup on the market is an uptrending channel.
ETH is in the phase of testing trend support. After a false breakdown, a small rebound and retest of the support is formed.
In the zone of 2188 - 2128 there is a liquidity zone, (rlinda . com) which the market can test in the format of a false breakdown before further growth.
I have highlighted two possible scenarios on the chart:
1) Retest of the mentioned support area before further growth
2) Retest of the triangle resistance with the subsequent breakout of its upper boundary and formation of a bullish impulse.