If $ETH channel bottom won't hold, next will be 2023 close and Weekly 20-sma (~2222)
And that is 5th time it approach it 🔽 Not so valid for diagonal ranges, but still signals of serious weakness
Wise Analyze
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$ETH bounced from the bottom of rising channel and grown to it's middle back above Daily 20-sma ✅
Nearest short term target is around 4H FVG at 2680. After that, if won't get rejected, can grow to the top of this channel and Monthly 20-sma. Many breakout attempts happened before, so each next multiply chances for success.
Bearish scenario not readable here and now, but remains the same - liquidity hunt below $2,379 / $2,346 to meet Weekly 20-sma.
🎯 Key Levels to Watch:
• Above: 2680 / 2800 / 2930 / 3064
• Below: 2530 / 2430 / 2380 / 2283
🔥 #Ethereum Liquidation Heatmap:
• Above: 2650 / 2672 / 2700 / 2775
• Below: 2586 / 2549 / 2489 / 2465
Nearest short term target is around 4H FVG at 2680. After that, if won't get rejected, can grow to the top of this channel and Monthly 20-sma. Many breakout attempts happened before, so each next multiply chances for success.
Bearish scenario not readable here and now, but remains the same - liquidity hunt below $2,379 / $2,346 to meet Weekly 20-sma.
🎯 Key Levels to Watch:
• Above: 2680 / 2800 / 2930 / 3064
• Below: 2530 / 2430 / 2380 / 2283
🔥 #Ethereum Liquidation Heatmap:
• Above: 2650 / 2672 / 2700 / 2775
• Below: 2586 / 2549 / 2489 / 2465
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