Evening Traders,
Today’s analysis – ETHSD – trading in a rising channel with more upside potential,
Points to consider,
- Price Action Trending
- Dynamic S/R
(Support/ resistance)
- Low Volume
- RSI Neutral
ETHUSD, trading on its Dynamic S/R Support in a rising channel, holding this level will allow for a bullish bias.
The immediate objective is the Dynamic S/R Resistance, breaking this level will increase the probability of a trend continuation.
The RSI is currently trading neutral whilst the volume is low, an influx is highly imminent once an expansion occurs.
Overall, in my opinion, ETHUSD is a valid long with defined risk, price action is to be used upon discretion/ management, allowing for a bullish bias.
Hope this analysis helps
Thank you for following my work!
And remember,
“He who knows when he can fight and when he cannot will be victorious.” – Sun Tzu
Today’s analysis – ETHSD – trading in a rising channel with more upside potential,
Points to consider,
- Price Action Trending
- Dynamic S/R
(Support/ resistance)
- Low Volume
- RSI Neutral
ETHUSD, trading on its Dynamic S/R Support in a rising channel, holding this level will allow for a bullish bias.
The immediate objective is the Dynamic S/R Resistance, breaking this level will increase the probability of a trend continuation.
The RSI is currently trading neutral whilst the volume is low, an influx is highly imminent once an expansion occurs.
Overall, in my opinion, ETHUSD is a valid long with defined risk, price action is to be used upon discretion/ management, allowing for a bullish bias.
Hope this analysis helps
Thank you for following my work!
And remember,
“He who knows when he can fight and when he cannot will be victorious.” – Sun Tzu