COINBASE:ETHUSD has been moving inside this channel for a while now, similar to the channel I saw on the COINBASE:XTZUSD chart.
Right now, ETHUSD is chilling in the middle of said channel, therefore risk-reward is 1:1 on the short term. I'm aiming for new entries in the lower end of the channel (between $190 & $200), for a long-term position.
Admittedly, I missed the entry I now suggest yesterday. Luckily I'm still holding positions below $150 & $170.
Once again, please do your due diligence before trading.
Best of luck, may your trades be profitable.
First Resistance @ 247.