Lingrid | ETHUSDT battle Between SUPPORT and Resistance Levels

3 oct

The price perfectly fulfilled my previous idea. It hit the target level. On the daily timeframe, ETHUSDT has been in a consolidation phase between support and resistance since August. Recently, a triangle pattern formed at the top of the range zone before the price dropped, likely influenced by the downturn in BTCUSDT . Currently, the price is approaching the psychological level of 2300, which has historically been respected multiple times. Additionally, the market is making lower highs and higher lows, indicating a narrowing price action. If the price approaches the 2300 level and shows signs of rejection, such as increased buying pressure, I expect a bounce off this support level. My target is resistance zone around 2525

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻