Eth has since come down as predicted in my last analysis meeting the $2200 support zone.
Now Eth is pumping on the 1hr chart, while the 12 hourly seems bearish and the 4 hour seems to be reversing the bearish trend.
looking at the RSI and MACD here there is a convergence on the MACD while Eth had come down to $2200 indicating that Eth could re-trend upwards now.
So you can be looking for a breakout of the Trend line anywhere up to $2500 as indicated on the chart. Pay attention to the triangle formation, as it could come down to the right the bottom edge of the triangle point, meeting the major support zone approx $2244 again before begining the Bullish up.
Long entry $4200 SL $2390
Short entry $2425 SL $4230 or until buy signal .
*Disclaimer: Not a financial advise. Please inform your decision based on your own analysis.
Thanks
Marlene
Now Eth is pumping on the 1hr chart, while the 12 hourly seems bearish and the 4 hour seems to be reversing the bearish trend.
looking at the RSI and MACD here there is a convergence on the MACD while Eth had come down to $2200 indicating that Eth could re-trend upwards now.
So you can be looking for a breakout of the Trend line anywhere up to $2500 as indicated on the chart. Pay attention to the triangle formation, as it could come down to the right the bottom edge of the triangle point, meeting the major support zone approx $2244 again before begining the Bullish up.
Long entry $4200 SL $2390
Short entry $2425 SL $4230 or until buy signal .
*Disclaimer: Not a financial advise. Please inform your decision based on your own analysis.
Thanks
Marlene
Comment:
Could be potentially a FUD breakout, because we would need to see KEY volume coming in at $2500 which is the resistance to ETH becoming Bullish.
Trade active:
Coming down exactly to meet the major support level.
Trade closed: target reached