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Ethereum Technical analysis

Hello Everyone Welcome back to another Ethereum update

Hello ladies and gentlemen you guys can see that we ended up breaking a crucial midterm support level you guys knew was the wick low that we wanted to pay attention to for this bar formation to play out as of right Ethereum is in a free fall situation trading below our exponential moving averages over the weekend you guys saw that we had a manipulation Candlestick a Candlestick without any sort of Wick opportunity

These sort of candlesticks because they always usually happen on weekends or holidays volume traps a lot of Traders and then we start seeing that capitulation overall as of right now scenario A is looking to play out and of course, for those of you who are new to the channel and don't know what scenario a is looking at previous price analyses you will notice that we have been in the same situation here before we saw Ethereum hidden to $4028 reject off that level and of course see a massive move towards the downside at the same Wick's low position at $3,000 followed by a pullback opportunity where we are currently in and now we are seeing the break structure of the exponential moving average our main area that we want to pay attention to on ethereum remains to be at $2800 that's going to be the crucial Zone that you want to pay attention for some buying opportunities down here

The 4-Hour time frame though you will notice the fact that not only did we complete a bar formation from this morning but we also have a secondary bar formation looking to play out a confirmation of that bar formation would be at $3274 so if those of you that want to look for a shorting position you want to pay attention to the current midterm support level which we are currently trading at right now if we end up breaking below the Zone then that's your confirmation to be trading into $3274 for those of you who are a little bit more conservative you can wait until $3274 ends up breaking and then enter your shorting positions for that continuation but that's pretty much