Lingrid | ETHUSDT battle Between SUPPORT and Resistance Levels
2024-10-03

The price perfectly fulfilled my previous idea. It hit the target level. On the daily timeframe,  BINANCE:ETHUSDT  has been in a consolidation phase between support and resistance since August. Recently, a triangle pattern formed at the top of the range zone before the price dropped, likely influenced by the downturn in  BINANCE:BTCUSDT  . Currently, the price is approaching the psychological level of 2300, which has historically been respected multiple times. Additionally, the market is making lower highs and higher lows, indicating a narrowing price action. If the price approaches the 2300 level and shows signs of rejection, such as increased buying pressure, I expect a bounce off this support level. My target is resistance zone around 2525



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