Will the ceiling of the descending channel be broken?!



11/12/20220 min read

Ethereum was in a range trend yesterday, and its price range was between $1,200 and $1,350. We can consider a descending channel in the one-hour time frame. The $1,200 support is still considered a reversal zone on the 15-minute time frame. Therefore, breaking this range can lead to a further decrease in the price of Ethereum. But if the ceiling of the descending channel is broken, Ethereum can grow to the resistance range of $1,350 and $1,400; the resistance of $1,400 is likely to overlap with the article of 20% dominance of Ethereum and can be accompanied by a reaction.

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