ETH/USDT: bullish move confirmed to 1380
Brian Leclere - 05 July 2022 - APP ETH MARKET_MINDS SHORT_TERM
—- Short-term Analysis for the next coming days – Hourly Chart (LOG)——-
ETH/USDT: bullish move confirmed to 1380
Context
– The ETH reversed up above yearly key support at 880 before drawing a start of bullish reversal
– after having prossing in trading range a short-term bullish move has been triggered bypassing 1115 resistance (neutral upside conf)
Market configuration
– Graphical Elements :
Graphical Resistance = 1380
Graphical Support = 880 & 1035
– Mathematical Indicators:
EMA ( Exp Moving averages) are support but no bullish cross yet = neutral to bullish
RSI indicator (below) is back in positive area = bullish
– Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (c) has been already reached = 1380
Fibonacci resistance of the wave in progress = 1035
Fibonacci support of the wave in progress = 960
Fibonacci Bearish Target = 795
Conclusion
As long as 1035 remains support a further bulllish move is expected towards 1380
Breaking 1035 a further trading range with swing down will be confirmed
Source: Market Minds, by AKT.IO
