ETH - Broke Support and Waiting to Buy At $256
Ethereum price broke shyly the support at $273 and is now ranging on the lower timeframes. However, as market structure generally dictates, we should see a retest of this level now as resistance and head lower to the $256 area where we have a nice demand zone. If this happens, we might see a push from buyers to get the price back on track. If price continues lower, we have another great opportunity to buy even lower at $227 with an even larger profit margin.
Let me know what you think on the comments below!
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Can I ask you how you check support trend line?
I look for two clues when searching support levels, one is a level o zone in which price has been rejected in the past and the other clue is to look for strength of moves, meaning levels in which price moved aggressively or moved a lot in a short period of time.
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