ETH is at support level priced at 1855. This region is the swing point where there is a chance for the market to bounce up. We are targeting the price of resistance to target the profit area. The price dumped massively. Now, there is a chance for the market to retrace. The structure has been bullish on the higher time frame but it dumped apart from the structure.

The ascending trendline has broken out and has been validated by the price action. But the structure is still bullish until it breaks the support level.

The retracement level is in confluence with the support level and the retracement level of 79%. 

EMA 50 is still bearish. We can still manage to take the profit at the EMA 50 retest. 

RSI is at 23. This means market is in an over sold region from where it may bounce back up towards the 50 level.

Ethereum at a premium place to buys

Apr 23 2023