Dear trading viewers,
In my opinion ETH is moving is an upward channel and now is testing the top live of the channel and since yesterday after the pomp , it has tested this line for four times in an one hour daily chart.
if it manages to breakout this line of the channel , it would be it's opportunity for the big pomp to reach the level of 3660 to 3800 during this week.
Now with the support of MA50 ,it is more likely to keep the support and move upward, and on another hand , in case of breaking down , first target would be the middle line of the channel which was a very strong support since the beginning of the channel and second target would be the lowest line of the channel which was touched several times the day before yesterday before the pomp , which means would be so hard to break down and go lower. what think is , the only thing that can make ETH goes lower than the lowest channel line would be the Bitcoin going down to 45k level, as I mentioned in my last analysis chart and I still do not invalidate it.
The Indicators MACD , RSI ,CCI and the volume are all showing the bullish and in my opinion we are going to have a green week and hopefully a green month ahead, but with some little corrections at some points but not the crash.
position : long
Resistant:3525 - 3660 - 3941
Support : 3250 - 3298 - 3342 - 3434
Please hit the like to support the Idea and send me any comment or questions.
Always Plan your strategy before taking any buy or sell positions .
Happy Trading <3
In my opinion ETH is moving is an upward channel and now is testing the top live of the channel and since yesterday after the pomp , it has tested this line for four times in an one hour daily chart.
if it manages to breakout this line of the channel , it would be it's opportunity for the big pomp to reach the level of 3660 to 3800 during this week.
Now with the support of MA50 ,it is more likely to keep the support and move upward, and on another hand , in case of breaking down , first target would be the middle line of the channel which was a very strong support since the beginning of the channel and second target would be the lowest line of the channel which was touched several times the day before yesterday before the pomp , which means would be so hard to break down and go lower. what think is , the only thing that can make ETH goes lower than the lowest channel line would be the Bitcoin going down to 45k level, as I mentioned in my last analysis chart and I still do not invalidate it.
The Indicators MACD , RSI ,CCI and the volume are all showing the bullish and in my opinion we are going to have a green week and hopefully a green month ahead, but with some little corrections at some points but not the crash.
position : long
Resistant:3525 - 3660 - 3941
Support : 3250 - 3298 - 3342 - 3434
Please hit the like to support the Idea and send me any comment or questions.
Always Plan your strategy before taking any buy or sell positions .
Happy Trading <3
Trade active:
ETH is braking out and testing the higher line of the channel scenario 1
Trade closed: target reached:
Next target 4000
Resistant:3525 - 3660 - 3941
Support : 3250 - 3298 - 3342 - 3434