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Ethereum Technical analysis

Hello Everyone Welcome back to another Ethereum update

The Daily time frame is a crucial resistance you can see that we've seen quite a bit of resistance levels being hit here of course and we can see that Ethereum is also at the point of exhaustion so what I'm paying attention to right now is to see whether or not the Bulls can hold above 4028$ and use that level as support if we do end up using that level as support...

On the daily time frame the next major resistance, of course, would be near an all-time high which is going to be around the $4,800 mark any break above that zone course, would mean the fact that Ethereum is ready to be in Price discovery much like Bitcoin it is probably going to see a ton of volume but you can see at current price range the 4028 resistance level is very crucial the last time we did end up seeing this Zone we did see quite a few Wick opportunities towards the upside but this was the Zone we saw our first correction as well as our second correction

I'm placing heavy attention to this Zone I don't necessarily want to be looking for a swing long opportunities here because you can see of course at a 20 exponential moving average is quite leveraged away but ideally any break Above This Zone and using as support could be the continuation trade otherwise I would highly suggest you wait for the daily exponential moving averages to play out the reason for that of course is you are much better at catching a a possible long position on these zones down here than you are up here at this major resistance if we do see a reversal you will end up getting caught in a larger Zone and you don't necessarily want to end up getting liquidated so you are better off just waiting for these EMAs for scalping opportunities now the the only time this would change of course is if 4028$ somehow did end up being used as support so what we are looking for at that point is a strong bullish engulfing candle from this range and of course falling back into that support level then that would be our confirmation that Ethereum is ready to go ahead and break through new all-time Highs but that's pretty much