Ethereum Important Zone

POLONIEX:ETHUSDT   Ethereum / Tether USD
The daily chart of Ethereum shows us that the market falls to the important zone. This zone is formed by MA100 and 200.00 strong support level . We must closely watch for price action in this zone. If price can break it, we'll see downward movement to the previous low. If price can bounce from this zone, we'll get a confirmation for new upward movement and a good entry level for buying. We'll have to wait for confirmed reversal signals. If the market start reversing from MA100 and 200.00 level, we'll have buy opportunity. Don't forget about signals from indicators. RSI will have to confirm price reversal. MACD histogram will have to confirm upward movement. DMI indicator will have to allow open long trades. Only after that we'll be able to open long trades with stop orders below the local swing low and profit targets at whole numbers or resistance levels.
Comment: Price could not break MA100. It can be a signal that the market will bounce from MA100 and 200.00 support level.
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@DLavrov We are holding the line. Thanks for the analysis.I would love to sell the ETH. Maybe, can get it cheaper but every time now that I do that I end up paying more for the ETH. Everytime I sells it goes up and every time I buy it goes down. Maybe it is better hold it for long and not short trading.
+2 Reply
Double bottom at 190
+1 Reply
Great ! which are the targets if it reverses from MA100 and support 200 ? thanks
Please, explaime what is MA100?
@jar17, Unless I'm mistaken its the 100 Day moving average.
+1 Reply
Very good analysis as always!! I think we are gonna see more downward movements. Hard to mantain long positions these days...
Thanks Dmitriy alot!
Have always loved the analysis - thank you! Any chance I can get you to comment on reading RSI, MACD, and DMI? Going through instructional videos at the moment
DLavrov dannyc938
@dannyc938, you can find interesting stuff about indicators in Chart School
+1 Reply
Jav360 DLavrov
@DLavrov, Thank you!!! What Chart School do you recommend?
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