Ethereum: Possible Reversal and New Highs

What do you think about further market movements?
Share your opinion in comments, let's discuss!

The price reached SMA200, which is a strong trend line. We have a reversal candlestick pattern, and it is a bearish signal. RSI is not far from the overbought zone. MACD lines are going to move downward. It will be another bearish signal.

If the price bounces from SMA200, we should be ready to see a downward movement at least to SMA100. The best zone for buying will be at the main uptrend line.

If the price can break SMA200 and the previous market high, it will be a bullish signal with targets at 200.00 and 220.00 resistance. The market will be able to reach these zones, but the main question is - will it be after a downward movement or without it?



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.