Ethereum changing trends after taking out 3k
Looking at the daily chart on ETHUSD we can see the recent downtrend showing the lower lows and lower highs and then a more recent area with lower highs where you see my trend lines.
Holding the support at 2500 was very important and then the break above 3k which really turned this from a downtrend to an uptrend.
You can see the other resistance levels taken out as well like 3200 and most recent 3400.
Right now there is some resistance around 3500 which is pretty normal.
4k is an interesting target to look for but let's see if 3500 gets taken out and then 3600 and so on.
3200 will be the important support level to hold as it is yesterdays low.
This shows how resistance becomes support and support becomes resistance.
Holding the support at 2500 was very important and then the break above 3k which really turned this from a downtrend to an uptrend.
You can see the other resistance levels taken out as well like 3200 and most recent 3400.
Right now there is some resistance around 3500 which is pretty normal.
4k is an interesting target to look for but let's see if 3500 gets taken out and then 3600 and so on.
3200 will be the important support level to hold as it is yesterdays low.
This shows how resistance becomes support and support becomes resistance.
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