What's up traders,
Here we are analyzing ETH/USD on the 1D chart.
I posted a ETH/USD analysis lately, and the dynamics of the trade have changed now, hence I am eager to update this idea.
Price is trading upwards since our last Ethereum analysis, and if you followed me, you would have made significant profits already (See related ideas for information on previous Ethereum analysis. Price is now trading at 605, after breaking side-wards resistance structure and continuing to the upside. Price is currently finding strong resistance at the 200 major moving average, because of this, There is a chance there could be a correction now, before any further upside ensues.
Price will now likely test the moving averages and correct to the Fibonacci retracement swing at 503.70.
I am expecting Ethereum to correct at the 200 moving average, come into the swing low and break to upside
Bare in mind, if price breaks to upside and finds support on the 200 major moving average, this could be extremely good news for Ethereum and would show a real confidence in the coin.
I will update this analysis when I receive above 40 likes.
Here we are analyzing ETH/USD on the 1D chart.
I posted a ETH/USD analysis lately, and the dynamics of the trade have changed now, hence I am eager to update this idea.
Price is trading upwards since our last Ethereum analysis, and if you followed me, you would have made significant profits already (See related ideas for information on previous Ethereum analysis. Price is now trading at 605, after breaking side-wards resistance structure and continuing to the upside. Price is currently finding strong resistance at the 200 major moving average, because of this, There is a chance there could be a correction now, before any further upside ensues.
Price will now likely test the moving averages and correct to the Fibonacci retracement swing at 503.70.
I am expecting Ethereum to correct at the 200 moving average, come into the swing low and break to upside
Bare in mind, if price breaks to upside and finds support on the 200 major moving average, this could be extremely good news for Ethereum and would show a real confidence in the coin.
I will update this analysis when I receive above 40 likes.
Trade active:
A strong upside move, we are making significant profits on this trade.
Now let's trade this to the upside, to the resistance zone at 881.
There is a fair chance that price will retest the lows before the upside move, which would also be a good time to get into the trade with an additional position, or a new position completely.
Now let's trade this to the upside, to the resistance zone at 881.
There is a fair chance that price will retest the lows before the upside move, which would also be a good time to get into the trade with an additional position, or a new position completely.
