⚪️Ethereum resumed unified uptrend from $ 3,000. Now, in order to climb further in the long run, it is necessary to overcome the resistance of $ 3,200.
ETH gained significant support around $ 2,750 and started a new uptrend. Following that, the resistance levels of $ 2,880 and $ 2,950 were broken and a hopeful atmosphere prevailed.
⚪️In the ETH / USD pair chart,...
The chart is based on the 4h time frame of ETH. My take on ETH :
Initiate a position and buy break out, if the price breaks above the upper line of the falling wedge.
Take profit level:
Target 1 - 3320$
Target 2 - 3475$
Target 3 - 3690$
Target 4 - 3970$
Questions, comments, likes, and follows are greatly appreciated.
Trade at your own risk!
Here's a quick Update on ETH 6 hr chart. As we can see, the price has been forming a bigger falling wedge and we could see a break to the upside soon! Definitely one to keep an eye on. October is believed to be bullish according to S2F model and historically!
The best entry would be, when the price breaks above the falling wedge with good amount of volume ....
Hi dear treaders
ETH breaks the roof of the downtrend channel, wait for the complete breakout and enter the buy in Pullback. If the break point acts as a support, resistance 3105$ and 3155$ are ahead. If the price returns to the specified support area, it is possible. The price is moving above MA20 and the Bollinger Bands have opened, which indicates that the...
This is not meant to be considered financial advice. Personally, I wouldn't trade this setup even if I'm right (this is not exactly my strategy), this is just purely for demonstration purposes only.
Take care, and DYOR!
Technical analysts use support and resistance levels to identify price points on a chart where the probabilities favor a pause or reversal of a prevailing trend.
Support occurs where a downtrend is expected to pause due to a concentration of demand.
Resistance occurs where an uptrend is expected to pause temporarily, due to a concentration of supply.
I have came accross this indicator called "Donchian Zig-Zag" and have paid close attention to its behaviour.
There are some strategies that I have developed with it, but I would rather not share them just yet.
I think overall, this indicator is fairly decent, and it can yield high returns when used properly.
At this current point of time, my views on this...
ETH is still following BTC's lead as it also dived down took liquidity from buyers then moved aggressively upwards after retesting the 2h demand zone and leaving a 1h demand zone behind. MACD also not showing clear indications but a clear bearish divergence on RSI in seen that could result in price testing the 2h supply zone and getting rejected, we would then...