Ethereum - Falling to Support Zones
The price bounced from the resistance zone formed by 165.00 and 160.00 levels. RSI confirmed the price reversal and we should expect the downward movement to one of the possible support zones. The 1st zone is between SMA200 and SMA50. Also, this zone includes 140.00 support level. If the price reaches this zone, we will be able to get reversal signals and use them for buying.
If the price can drop below 140.00 level, the 2nd support zone will be at SMA100 and the uptrend line. Buying from this zone also will be a good idea as the market will be able to continue the uptrend bouncing from the uptrend line.
If the price can drop below 140.00 level, the 2nd support zone will be at SMA100 and the uptrend line. Buying from this zone also will be a good idea as the market will be able to continue the uptrend bouncing from the uptrend line.
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