EH had a few predictable runs in the past couple of weeks. Two breakouts each giving 40-50% and then a free fall, leading to another 100% gain for dip buyers. We have used these opportunities in our group. The last one was a clear buy signal when it had support from
1- 200ma
2- whole number, 40
3- high bullish volume area accumulated around mid-Jan.
The price target should have been 70 and then 80. I personally would not believe it can go higher with a lack of transparency. A good PR could push it a bit higher, but those bullish volumes accumulated during Jan and mid-Feb perhaps would not risk their capital more to push the price higher unless EH increases their transparency.
As of now, I am long-term bullish on EH, yet I would not risk my capital right now (prefer to trade the chart instead of gambling and being emotional). I would wait for more consolidation and some new PR from EH and start a new position when it touches 200ma again or showed some sign of strength.
Trade safe!
1- 200ma
2- whole number, 40
3- high bullish volume area accumulated around mid-Jan.
The price target should have been 70 and then 80. I personally would not believe it can go higher with a lack of transparency. A good PR could push it a bit higher, but those bullish volumes accumulated during Jan and mid-Feb perhaps would not risk their capital more to push the price higher unless EH increases their transparency.
As of now, I am long-term bullish on EH, yet I would not risk my capital right now (prefer to trade the chart instead of gambling and being emotional). I would wait for more consolidation and some new PR from EH and start a new position when it touches 200ma again or showed some sign of strength.
Trade safe!
