We’re looking at ETH Cryptocap (left) and ETHUSDT (right), both on the daily timeframe.
ETH Cryptocap has just touched the 0.236 Fib level, and ETHUSDT is only a few dollars away from it.
Since March 2024, this level has consistently acted as resistance — each time price crossed it, it eventually retraced after hovering briefly above.
Will this time be different?
What’s clearly different now is volume: it’s rising along with price.
In the past 10 days, there’s only been one red volume candle, and even that was minor.
Meanwhile, RSI is firmly in the overbought zone.
I don’t know if ETH will go higher or start retracing, but I can prepare for both.
The simple solution: place a trailing take-profit order and let price move.
If it pulls back, I’ll lock in some gains.
If it keeps climbing, I’ll stay with the trend.
For me, everything else is just unnecessary complication.
Always take profits and manage risk.
Interaction is welcome.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.