DLavrov
Long

Ethereum: Market Review and How to Trade

BYBIT:ETHUSD   Ethereum / U.S. Dollar
The price bounced from SMA20 and moved above SMA50. It gives us a bullish signal in the direction of the main uptrend. In spite of the bearish MACD histogram, MACD lines and RSI are bullish and support a possible upward movement. It is possible to search for buying opportunities using hourly timeframes with the 1st profit target at 395$ and stop orders below the local swing lows.

In order to be sure that the market is going to continue the uptrend, we need a breakout above the resistance zone at 400$ round number level. The breakout will give us a solid bullish signal with the main target at 500$ resistance.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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Comments

nice chart! thanks! 🦐💪🏻
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SOLLDY for YOU 💲
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We can see buying strength. Thanks for sharing your idea 🐻‍❄️😃
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Good job...Thank you
Reply
Thank You Dmitriy. :)
Reply
DLavrov zerocashcool
@zerocashcool, I'm glad to see you here, my friend ;)
Thanks for the feedback!
Reply
Thank you. It is still on the uptrend so it will continue going up
Reply
DLavrov Saeed966
@Saeed966, yes, we will see how it will move upward. Thanks for the feedback!
Reply
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