DISCLAIMER: I am not a financial advisor nor certified analyst. All contents discussed on this blogpost are solely my own personal views and for Trading education/entertainment purposes only . Do your own research and due diligence.
With that being said, let's get into it;)
1 Day Timeframe
This is a continuation of Ethereum after cancelling it's trip to the moon for a relatively short period of time. And right now, we're quite sure that it's back to it's feet and ready to take the long bullish race ahead.
After some couple of analysis, it finally became clear that during those moments of ethereum being in a bearish state repeatedly for some time, It was actually forming a support trend line which will be able to aid it's new bullish increase.
Not only did we found a trend line on the 1 Day timeframe, but we also found another one in the smaller time frames like the 1 hour timeframe which we're going to use for a more indepth view of what's happening on Ethereum's chart.
1 Hour Timeframe.
Using the 1 hour timeframe, we can then clearly see the two trend lines formed on Ethereum chart which are both acting as a support zone to further aid the bullish movement of Ethereum's price.
The first trend line was formed following the breakout which occurred earlier and brought about some bearish movement for a short period of time. The support trend line further helped in directing the candlesticks to a bullish area.
As for the second trend line which also acts as a support zone but for the candlestick that's currently developing. Hopefully, things keep on going well for Ethereum.
And to top it up, don't forget the key level which also acts as support zone.
Overall: Currently expecting a bullish movement soon.
https://read.cash/@InvestorOmar/update-bch-today-crypto-to-the-moon-fc174d06
https://read.cash/@InvestorOmar/update-free-bitcoin-cash-chart-analysis-bch-to-the-moon-3cbb7e90
Peace.
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