Hello traders, I hope your Christmas was great. I had a great time with my family and friends and it was blessed.
Well, it's time to get back to the market, and here we are with the ETH update. I am gonna use the 8 hours timeframe to analyze the chart.
Currently, ETH is dodging between the support and resistance lines. With the price trying to break above the resistance, I am expecting a 10% to 12% upward move on ETH. The indicators supporting this move are the RSI and the 21 MA. Technically, if ETH manages to hold on to the lower supporting trendline then it is fine but if ETH breaks down below it then we may see some bearish tension.
If you wanna trade on ETH then $1188 to CMP will be a good entry-level. Stop loss will be at $1145 and the target will be 8% to 15%.
Note: Trade at your own risk and if you are confident enough. Do not take it as financial advice.
Thank you for reading. Trade safely.
Well, it's time to get back to the market, and here we are with the ETH update. I am gonna use the 8 hours timeframe to analyze the chart.
Currently, ETH is dodging between the support and resistance lines. With the price trying to break above the resistance, I am expecting a 10% to 12% upward move on ETH. The indicators supporting this move are the RSI and the 21 MA. Technically, if ETH manages to hold on to the lower supporting trendline then it is fine but if ETH breaks down below it then we may see some bearish tension.
If you wanna trade on ETH then $1188 to CMP will be a good entry-level. Stop loss will be at $1145 and the target will be 8% to 15%.
Note: Trade at your own risk and if you are confident enough. Do not take it as financial advice.
Thank you for reading. Trade safely.
