RLinda ! ETHUSDT -> Breakdown of correction support

26 août 2022

ETHUSDT. On the chart there is an interesting situation in the resistance zone of the global descending channel. As we can see, then from the support, around the beginning of June, the formation of an upward corrective movement began, which reached the channel resistance. The price tests the zone and at some point breaks the support of the local uptrend channel. Consolidation in the short zone is formed.

The chart clearly shows how the price on low volatility consolidates under the support. Here the short potential begins to form, as there is no update of the local tops and the market now preconditions are more to the fact that the fall will continue.

I assume that in the midterm we can expect a fall in the price, the nearest target is the support of 1355, the next one is the support of 915,

Regards R.Linda!