ETHEREUM ETH PRICE PREDICTION TECHNICAL ANALYSIS NEWS TODAY 2023
looking for a retest on the 9 and the 20 EMA some of you guys managed to catch some very nice scalping opportunities so congratulations to those of you that have joined looking at Ethereum as of right now you can see the fact that we are heading into a third test breakout formation and for those of you that already know you can see that the market has already tested the 1911 range twice and now this is the third test opportunity usually on the third test we tend to see a massive breakout formation so we have to be very careful here of course trading with the weekend volume we are going to be looking for quite a bit manipulation but to make things easier all we have to do is pay attention to 1884
Support As long as we remain Above This support level we are only going to be looking for buy opportunities on Ethereum for those of you that are looking for shorts we are only looking for scalps because the market of course is letting us know that we are looking for a breakout as long as we have volume now if we do end up losing 1884 and retesting it as resistance then we can flip over to the bearish case which of course you guys already know our main deciding factor remains to be in 1884 because of the the fact that this is a very strong daily support level looking at the previous price the analysis you can see that this level of the course was a very tight range
We saw multiple re-test opportunities before finally ending up losing that support and this is exactly what I'm paying attention to as of right now if Ethereum does end up losing this level once again then that's going to be a very strong bearish confirmation as from previous price analysis you can see that we had a very strong bullish engulfing followed by a situation candle and this is what I'm paying attention to it as of right now if the market does end up losing 1884 things are a lot more likely to be heading towards 1715 if not even the 1500 Ethereum so the Bulls have to maintain this 1884 support level if order we are going to be looking for any sort of trend reversal now assuming the fact we do see that short squeeze opportunity on Ethereum and 1911
The main target for us of course remains to be at 1936 that would be an area of take profit number one and of course the the second area of take profit would remain to be somewhere around the two thousand dollar Ethereum the reason why is because looking at the previous price analysis this is pretty much where the move set started and this is likely where things are about to go assuming we break above 1911 that would be the perfect area of take profit for take profit number two for those of you that are a little bit more conservative we have to pay attention to 1936 because looking at previous price analyses this was a very strong range in terms of resistance so just be wary of that as we enter that range if we do see a very nice WIC opportunity that would be the first area to be looking to take some short problems but that's pretty much best of luck
