Ethereum - It's Time to Buy?

The price bounces from the support zone formed by SMA50 and the uptrend line. RSI confirms the price reversal and MACD histogram is going to support buyers.

This reversal signal can be used for buying for short term based on the hourly timeframes. The profit target should be at the downtrend line. But I would like to talk about the medium and long term trading.

The market keeps the potential for moving lower. If BTC and other coins continue the falling, ETH also will follow them. The price will be able to reach the 2nd support at the main uptrend line and SMA100. If so, buying based on the reversal signal can be rather risky, if we talk about the medium and long term trading.

In order to get more reliable buy signals, it's better to wait when the price moves above 160.00 level and breaks the downtrend line. It will confirm the strength of buyers and allow us to join to the main uptrend.
Stop orders for such trades should be placed below the uptrend line and the local swing low. Profit targets can be the previous swing highs and 200.00 resistance, if we talk about the medium term trading. For the long term trading stop orders can be placed below the main uptrend line and profit target at higher key levels like 300.00 and 500.00 or maybe even higher, if you are ready to hold long positions for months and years.

And what do you think about Ethereum? How will you trade it? Please, share your ideas in comments. Also, I will be grateful if you support my work by your LIKEs.