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Ethereum Technical analysis

Hello Everyone Welcome back to another Ethereum update

Hello ladies and gentlemen as you can see yesterday we were testing a very key resistance level here at 3683 I mentioned to you that we are looking for a nice scalping long opportunity into this range and of course, locking in those profits because this is a crucial level the reason why we wanted to lock in our profits of course was because this breakout opportunity was not guaranteed

You can see that we also had scenario a looking to play out and for those of you that are new to the channel scenario a was something that we noticed from previous price analysis that has happened on Ethereum before what happened was we had the same sort of retest of 4028$ as a crucial resistance a massive Wick opportunity into the same support level of 3023$ which we have seen and then this pullback opportunity into the highs of 3680 before the breakdown structure once again

If we manage to break back below these EMAs that's going to be the confirmation to look for that shorting opportunity back into the $2800 region is now the $2,800 region of the course is very important because looking at the previous price analysis is pretty much a very crucial Zone in terms of support and that's most likely where we will see the next leg opportunity on Ethereum if of course, the Bulls managed to break above 3683 and hold that level as support then that would be an invalid validation Zone and we can start focusing on the next leg towards the upside into 4028 so this is why I'm mentioning the fact that this is probably going to be a major deciding factor in how Ethereum plays out for us to know where the confirmation is going to be is, of course, these exponential moving averages and a clean break below that level and retesting them as resistance is the confirmation to start looking for shorting opportunities

we are retesting this level of support we don't necessarily know which direction this trade is going to head into the EMAs and this is why I always tell you be patient with your entries as you know we tried to get in and out of the market extremely fast and of course wait on the sidelines for a larger position but that's pretty much