Ethereum With A Solid Support Level ?
Hi guys !
I am sure that all crypto lovers and traders remember the pump on volume on the 2nd of July when crypto went mad for a while and gave us a good taste in our mouths that things are about to turn. Well it turned out that we were just testing the other side of the range on the hourly.
As I was going through my charts I noticed that a solid support level has been formed around 450$. As you can see from the chart the big volume that came on the 2nd of july kicked in at 449.67$, after we tested the highs of the range and we couldn't break the range we came down again and this time we managed to hold the 458$.
The interesting thing happened just minutes ago when we broke down to 449.77$ and the volume came to the upside to save the day. This is a good sign for me as this might indicate a change in sentiment for the near-term future. For now I will use the lower white line as support and the upper line as resistance. Of course I also watch the longer-term charts - daily, weekly and monthly ! This month has a potential to be a great one :) I will keep you updated !
What's your thouhts on the matter? Let us know in the comments
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