π» Ethereum in a Daily Correction: Ethereum (ETH) is currently undergoing a correction in the daily timeframe, approaching the Fibonacci levels of 0.382 and 0.5.
π PRZ (Potential Reversal Zone): This zone is significant, as it includes various Fibonacci retracements of different waves and also serves as a strong support area.
π Ethereum Buying Scenarios:
Entry in PRZ: Enter the PRZ box and look for a candlestick pattern or formation that indicates a bullish reversal. After receiving confirmation, you can consider buying with a stop loss below $1914.
Wait for Upward Movement: Wait for Ethereum to show support in this area and move upwards. Consider entering after a breakout above $2454.
π‘ Personal Ethereum Strategy: Currently, I'm holding my Ethereum, utilizing it in DeFi to generate returns. I plan to continue holding as long as Ethereum stays within its ascending channel.
β οΈ Caution in No Trade Zone: Be aware of potential high volatility in the no trade zone.
π Short Position Strategy: For short positions, consider entering below $2024.
π Future Updates on Targets: I will update the analysis with potential upward targets if Ethereum moves upwards.
π Related Categories:
Ethereum Correction Analysis
Fibonacci and PRZ Analysis
Entry and Exit Strategies
π£ Whatβs your current approach towards Ethereum? Are you planning to buy, hold, or wait for further confirmation? Share your strategies! π¬π #EthereumCorrection #CryptoTrading #TradeCityPro
π Remember: Cryptocurrency markets are highly volatile. Stay updated with market trends and manage your investments cautiously! π§ πΌ