Ethereum showed strength by trying to push higher but without success. The candlesticks are showing long wicks because they got rejected by the uptrend line, resistance level (former support) and MA50 level. This is a good indication that the price is trying to push lower.
If it's going to break below of 640 level, it's more likely going to continue to next support zone which can be found close to MA100 and it can be traded at these level with confirmed reversal signal. Without confirmations, it's better to wait for better trading opportunities!
Things to Remember
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
DISCLAIMER:
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
If it's going to break below of 640 level, it's more likely going to continue to next support zone which can be found close to MA100 and it can be traded at these level with confirmed reversal signal. Without confirmations, it's better to wait for better trading opportunities!
Things to Remember
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
DISCLAIMER:
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
