After strong bear market possession, ETH has shown signs of recovery.
As we can see from the chart
ETHUSD
is in accumulation zone for more than 3 weeks between 220$ and 250$ price levels. Price rejected to break previous support zone and EMA 50 level, which is a sign of potential upcoming bulls scenario. According to the chart it is possible that price will retest descending trendline in order to squeeze the market then there is a possibility to breakout descending resistance level and to reach previous resistance levels at 280$ - 300$ zone
Enter zone - 220$ - 230$
TP - 280$ - 290$
SL - 3-4 % (Quite big risk)
As we can see from the chart
ETHUSD
is in accumulation zone for more than 3 weeks between 220$ and 250$ price levels. Price rejected to break previous support zone and EMA 50 level, which is a sign of potential upcoming bulls scenario. According to the chart it is possible that price will retest descending trendline in order to squeeze the market then there is a possibility to breakout descending resistance level and to reach previous resistance levels at 280$ - 300$ zone Enter zone - 220$ - 230$
TP - 280$ - 290$
SL - 3-4 % (Quite big risk)