Etherium has completed a 1:1 retracement and has set up 2 support levels at 514-516 and 519-522. It has completed the ABC correction with 12345 sub waves. Now it is going through a flat correction and bouncing off support levels. Nothing much to do here and watch if it continues to play off support. The RSI indicators are looking good, if it can break the resistance, and bounce upwards from the resistance, we can expect a comeback. Till then, would keep watching.
If the support level breaks, i am expecting it to do another ABC correction and could possibly go back to early week numbers.
If the support level breaks, i am expecting it to do another ABC correction and could possibly go back to early week numbers.
Commentaire:
ETH on critical support, if this breaks, next support around 463 mark
Commentaire:
All levels should be considered as a range rather than an exact value. Also when there is a break below support levels, it needs to break the support level and bounce off it.
Commentaire:
Old support is now new resistance - See green band
Commentaire:
^^ Correction, meant purple band.