Recently ETH has exited its bull trend and made a minor pull back into the 2200-2200 support zone. Currently, ETH trades inside a horizontal with support at 2075 and resistance at 2200.
What's next? Given the conditions, there is a lot of negative momentum surrounding ETH at the moment. A. price has broken below one of the set lows in the bull trend (2200) B. Price most recently was bearish until finding support around 2075.
Strategy: 2000 and 2200 are absolutely critical in this position. As such I am looking at 2 things. 1, Price to break below 2000 both a previously tested low and a low in the bull trend. in which I will look to buy around 1500-1700. 2, for price to break above 2200 with at least a solid 4h candle. In this position, targets would be 2300 then 2600, and 2800.
Best of Luck, Like/Follow For More.
What's next? Given the conditions, there is a lot of negative momentum surrounding ETH at the moment. A. price has broken below one of the set lows in the bull trend (2200) B. Price most recently was bearish until finding support around 2075.
Strategy: 2000 and 2200 are absolutely critical in this position. As such I am looking at 2 things. 1, Price to break below 2000 both a previously tested low and a low in the bull trend. in which I will look to buy around 1500-1700. 2, for price to break above 2200 with at least a solid 4h candle. In this position, targets would be 2300 then 2600, and 2800.
Best of Luck, Like/Follow For More.