Ethereum/TetherUS (ETHUSDT) SHORT POSITION
Ethereum is the community-run technology powering the cryptocurrency, ether (ETH) and thousands of decentralized applications.
Recently, the price reached the middle line of the Keltner channel.
Fibonacci retracement tool was used to indicate targets and entry levels.
The trend is losing momentum that we can observe on the RSI. Moreover, according to the MACD, we see a recent bearish confirmation hence the trend is expected to continue downwards.
Conclusion:
Position : SHORT
Stop loss : $3151.63
Entry range : $2942.56 - $3060.87
Target I range : $2641.00 - $2759.31
Target II range : $2292.11 - $2410.43
Recently, the price reached the middle line of the Keltner channel.
Fibonacci retracement tool was used to indicate targets and entry levels.
The trend is losing momentum that we can observe on the RSI. Moreover, according to the MACD, we see a recent bearish confirmation hence the trend is expected to continue downwards.
Conclusion:
Position : SHORT
Stop loss : $3151.63
Entry range : $2942.56 - $3060.87
Target I range : $2641.00 - $2759.31
Target II range : $2292.11 - $2410.43
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