Ethereum How to Trade

Let's look at the 4H chart of Ethereum and try to spot possible price movements and entry levels. We can see that the market is at the important zone formed by the uptrend line and 300.00 support level. If the price bounces from this zone and breaks the downtrend line from the 1H time frame, we'll get a signal of further upward movement. The market will rise to 320.00 resistance level. If the bulls are strong and pass through this resistance level, we'll get a confirmation of the uptrend. Our pending orders for buy can be placed above 320.00 level. But what if the price breaks the uptrend line? In this case we should expect for further downward movement to the next reversal zones. The reversal zone at 270.00 level is not so strong. We'll need strong confirmations for buying from this level. If the market drops below 270.00 level, the next zone will be able to stop the falling market. It is formed by 230.00-240.00 support levels and the uptrend line. This zone is a good place for opening long trades based on a confirmed buy signal.