Hello friends
You see the Bitcoin to Ethereum chart.
You may be wondering what caused Ethereum to grow. I should tell you that this chart shows us what happened.
The price is in a downtrend, which indicates a money movement (from Bitcoin to Ethereum).
When you see that after 3 hits to support, the price has managed to break the support and the price has fallen and formed a downward channel, which could indicate that Ethereum’s growth is continuing.
So now we have identified the support areas for you using Fibonacci, based on the price range that has formed.
The price is now at an important support area, as you can see, we had a bullish reaction when we hit the support area, but the price reversed due to the strength of the downtrend…
Now, if the support area breaks, the price can move lower to the specified targets.
Keep in mind that if the price grows, the upper support areas that were broken now become resistance and the price must be able to break them for our trend to be bullish, but as long as the price is down, the upward trend of Ethereum will continue and the upward trend of Ethereum will also make the altcoins bullish…
*Trade safely with us*
