Crypto – ETH status update

ETHBTC – Weekly timeframe

ETH is currently in a wedge, I’m waiting for it to break through, once it goes past 0.06 we should see some movement in the markets.

ETH.D

ETH is still in a range, currently at a resistance (confluence between trendline and mid range).

Weekly timeframe

ETH is currently in the 3rd impulse wave, next support is at 3000$, followed by 2500$. Until we see a confirmation by breaking the current support, it can be in a correction on a lower timeframe, taking liquidity and resolving the previously created imbalance.

Daily timeframe

On daily timeframe, we’re at a support level, and if it loses it, the price will rapidly move towards 3200$. We just swept the liquidity over previous wicks, so we can see some move up soon. We can also see a fakeout / v-shape recovery below the support.

By admin