Ethereum: Trend Reversal Signal in the Bullish Market

Yesterday I wrote about Ethereum using the daily timeframe. You can read the details in the post from the related ideas. Today, let's look at the 4H chart.

The market gives us a trend reversal signal based on a bearish divergence. RSI confirmed the price reversal. MACD supports a possible downward movement. If the price breaks the local uptrend line, it will confirm the further falling where the target will be at SNA100, SMA200, as well as the support levels and lines from the daily chart.

The reversal signals from these zones will be good for buying as the market is going to stay in the bullish trend. The correction movement will allow us to open long positions using good entry points.



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.

Comment:

A new swing high gives us the double bearish divergence. It is a trend reversal signal as well.