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24.11.2021 05:10 AMEthereum has been forming a flat zone for the seventh day. The bearish movement stopped after dropping to a significant support zone of $3970. This indicates the presence of a large number of limit buy orders near the specified level.
The upward movement yesterday showed that buyers' strength is not yet enough to break the downward impulse. The closing of trading occurred below Monday's opening. Within this zone, there is an opportunity to find a favorable price to sell the instrument. The defining resistance is the level of $4450. As long as the daily candles close below this mark, the probability of updating the monthly minimum remains 75%, which makes selling from the upper limit of the flat more profitable.
The task is to find a pattern for selling the instrument as close as possible to the level of $ 4450. It is important that the risk-to-profit ratio is above 1 to 3.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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