EthereumLong
Possible ETH dip into $500 or even $375 zones.
Weekly resistance looks to be holding strong on ETH and stopped it from breaking $683 area. Bearish signals have presented them selves it does seem like ETH is running a bit out of steam. The channel in which it's trending up indicates that we are still in bullish trend.
Notice how the channel lines line up perfectly where the $500 buy zone is. This is an area where resistance was once there now serves as support. It also happens to be right where the right side of the channel trendline connects which is why I considered it a high probability trade.
Now for the lower buy point at $375. We could certainly see a wick penetrating through the channel lines and hitting the $375 line which would be the preferred choice but I'm not sure if there are many people out there will to sell their ETH right now, so $500 will be the one for me to jump into.
Notice how the channel lines line up perfectly where the $500 buy zone is. This is an area where resistance was once there now serves as support. It also happens to be right where the right side of the channel trendline connects which is why I considered it a high probability trade.
Now for the lower buy point at $375. We could certainly see a wick penetrating through the channel lines and hitting the $375 line which would be the preferred choice but I'm not sure if there are many people out there will to sell their ETH right now, so $500 will be the one for me to jump into.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.