I said in my last ETH analysis that if the price close above the black line, would be very good, but if it closes above the yellow line, would be perfect. And now ETH is doing exactly what would be a perfect scenario. I said that it could close above the yellow line in the next days, and if you missed my last ETH analysis the link to it is below. Also, I invite you to follow me to keep n touch with my trades and analyses.
Now, let’s see if until the end of this day the bulls will manage to keep the price up, and if that’s the case, the bears will have some problems. You may be asking, why I give so much emphasis in this yellow line, and that’s simple. If the price close above it, ETH will frustrate the bearish pivot it did recently, evidenced by the orange lines.
Now, let’s see the hourly chart as usual:
ETH is trading above the yellow line right now, let’s see the outcome of this battle! Also, it’s trading above the 21 ema, another good sign, and the next challenge will be the black line (although I don’t think it’s too important, maybe I’ll erase it later), and the purple trendline. Then, we will see if ETH will fly again.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
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So will eth fly today ?
and can eth go more than 227
Nathan_Black
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@bander86, Hello bander! Let's see, eth is still trapped between the black and yellow lines. The bulls must breakout the black line for good, then eth will fly again.
But for now, we must wait. That's my opinion, hope it helps.
My best regards to you, my friend.
TurnerCrypto
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damn I sold out of my 198 buy at 187 and went short hoping to recover and get a lower price.. now I feel I dont know what to do but my loss and buy more and go long again? so hard wish kept my 198 buy going now.. do u think its wise to cut my loss and re buy long? not to sure I mean I guess anything could happen.
Nathan_Black
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@TurnerCrypto, Oh, no, Turner, I was cheering for you in this one! But I don't blame you, that crash was because of the expectations towards the halving, and affected ETH as well.
Now, in my view it's a long trade, and the stop could be under the red candle's shadows or under the black line, what suits you, but keep in mind it could drop all the way to that red line in the daily chart and I still think would be ok for ETH. So, depends on your strategy and money/risk management. But, if your are short, be aware of the purple trendline, ok? If the price close above it, then you will have problems.
and can eth go more than 227