Will refusal continue macro time?

Etherum is facing a crucial moment because he trades in the main resistance zone. After several failed attempted breaks, the price of the price shows signs of weakness. The next move will be crucial in determining whether Etherum can transfer their bear structure or continues the macro.

Ethereum (El) Currently tests the area of ​​resistance to the keys, and the reaction could set the tone here for the next big move. Despite the recent set, more technical factors suggest that Etherum remains vulnerable to further flakes if this resistance is held. Below, we interrupt key in the game, critical support for viewing and conditions required to turn the market structure Bullish.

Key technical points

• Etherum is a test resistance to 0.618 Fibonacci, VVAP SR and the main daily SR level.
• Key support is about $ 1,055, a critical level of a high time frame that must hold for the formation of a bilk structure.
• Failure to support the risks risk a low, affirming the extension of the bear daily structure.

Detailed technical discussion

Current trade location Ethereum is seated at the mouth of large resistance: Retrag price 0.618 Fibonacci, resistance to VVAP supply and significant daily horizontal level. Multiple recent daily candles were unable to close above this zone, emphasizing lasting weaknesses despite the gathering over the past week.

Key monitor support is about $ 1,055, synchronizing with high time support with high deadline. If Etherum should withdraw this area and hold, it could form a low, early sign of strength. However, the $ 1,555 failure will open the door to break through the previous momentum low, confirming the new lower and extending the macro crossing at the daytime.

From the wider perspective, Etherum’s trade location is extremely critical. This refusal increases the probability of continuing the underside, strengthening the current sample of lower high and lower falls.

Only a strong reaction of support to $ 1,055, it was encouraged by increasing the scope and crucial burglary above the current lower high, could turn the structure, and propose the main shift of the trend.

What to expect in the upcoming price of the store

If Etrereum does not violate the current resilience zone, we can expect that it will be highly confirmed, probably lead to re-repetition of the 1,055 dollar region. Failure in this support could start a deeper sale sale, creating new and continuing the bear structure.

However, if Etherum finds strong support to $ 1,055, and then rally in volume subject to resistance, the market could rotate, potentially leading to a new high high and structural transition to upside down.