ETHUSDT Free market analysis for week 41 (9 Oct 2023)
This week’s free market analysis is on crypto will be on ETHUSDT.
ETHUSDT on the monthly timeframe is on a downtrend after a massive bullish move up to 4700 price level after which it started making lower lows and lower highs. price have rejected twice at 2000 price level and currently making its way down to the next support level.
ETHUSDT on the weekly timeframe has been on a downtrend and has been making lower lows and lower highs. price is currently bullish making higher highs as it is pulling back to make a swing high before continuing going down on its initial trend.
Also read: XRPUSDT Free market analysis for week 40
ETHUSDT on the daily timeframe is currently in a range between support 1150 price level and resistance at 2000 price level. price have failed to break the support and resistance ever since it traded into this range around may 2022. currently price is trying to make its way to the support but it facing some rejection.
4 HOURS TIMEFRAME
ETHUSDT on the 4 hours timeframe in currently in a mini range while its in a major range also on the higher timeframe. price have been rejecting at 1730 price level which is serving as resistance and also price have also been rejecting at 1550 price level which is also serving as support.
ETHUSDT PRICE PROJECTION
ETHUSDT free market analysis and price projection for this week: Price is currently stuck in a range and have failed to break the range. price over all bias is bearish and a break and retest on the horizontal line at 1563 price level and minor support at 1550 price level will signify that price has gained momentum to continue in its down trend and will trade to the major support at 1150 price level.
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