_Ethereum Update
ETH is moving smoothly and printing some clean structures, especially on this present timeframe at H8 timeframe, as compared to BTC lots of movement happen. π
As we can see from the current market movement, we recently broke above the short-term white keylevel resistance at 2482 and tested the cyan line, which is the major trend resistance, at 2648.
My two case scenario on ETH panda fam its either rejection on major trend resistance cyan line for short term correction for me that will be my bias for healthy movement else we will enter the
Ranging Area, which is bad since it will make ETH go sideways or have minimal volatility, and finally
The first indication of confirmation for the next strong upward movement, Panda Fam, would be the break above the 2.8k keylevel resistance and a retest as a support confirmation!
Happy trading and Trade safe ! π