AlanSantana

Is Ethereum Preparing To Move To $225 Or Even Higher?

Long
BITMEX:ETHUSD   ETHUSD Perpetual Futures Contract
The chart for Ethereum ( ETHUSD ) looks like a move to the upside is about to happen.

Right now ETHUSD is trading above resistance and momentum is starting to build up. If additional buyers/bots continue to jump in, we are likely to see a strong move.

Here we see the same signals I always look for that are present on the chart above:

  • Bullish indicators ( MACD and RSI ).
  • Trading above EMA10 and other moving average indicators.
  • Volume growing in favor of the bulls.
  • Market sentiment feeling bullish .

These signals are telling me that ETHUSD can move up but... Remember...

Conditions for change
If ETHUSD moves below the first blue line or $188.80, the bullish potential of this setup is reduced.

If ETHUSD closes below $182 with a bearish candle, then lower support levels are going to be tested.

Right now Ethereum ( ETHUSD ) is bullish and aiming higher... My target is higher than $225 on higher timeframes... We will see how it goes.

Thanks a lot for reading.

Namaste.

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