FX.co ★ sandra75 | #Ethereum chart analysis

#Ethereum H4

Actually, that's what I was talking about. The resistance at the level of 1639.46 did not let the ether quotes go north again, resulting in a southern direction. The moving average also supports the southern direction, providing resistance to the north above the quotes. This could of course be a continuation of the decline, and in that case, it is quite realistic that they will reach support at the level of 1504.94 and try to break it. Breaking this level, if followed by the consolidation of quotes below the level, will be a continuation of the southern direction with the prospect of testing support at the level of 1329.05. Consolidation below the level in this case is almost mandatory as it eliminates the possibility of a false breakout below the level. When the final support is reached, conclusions will be drawn about the further direction. As for the north from the current positions, it is unlikely to just go north like that. The resistance and the moving average are not allowing it to happen yet, and it is clear that these resistances need to be overcome in order to have the opportunity to consolidate above the resistance. Remember that consolidation above the level serves as a signal for a continuation of the upward direction. The target in this case to the north will be the resistance at the level of 1845.49 and possibly above 2017.47. Good luck to everyone.