Updated

ETH at important resistance

Ethereum is overbought and at strong resistance. But with all that it is on hype I can't deny possibility of breakout, although consider trading it extremely risky. But facts are facts - volume is growing and support bullish Ethereum.

It has already gone parabolic, so if breakout happen, next candle can be even longer, than previous, capable of reaching 0.0355. But that will take time. Safe targets are closer at 285 - 300. Bitcoin should calm down above 10k for that to happen.

If will be rejected, price will drop down to 225-230. These support zones will be perfect for long entry. Make sure you have long orders there, as they can be touched by a fast wick.

Note

Same bull flag at 4 hour chart. Watch it closely. Breakout might be coming soon.

Note

Despite overall market bullishness Ethereum manages to look very weak. It even fell below 255 SR, which now acts as resistance. But the big picture is good, so this pullback could be a last chance to go long from very good entries. Sure there is a chance it will bounce from 24550 for the third time, but I prefer not to bet on 3rd bounce. Too risky.

Buy zones 23000 / 21945 / 20097
Targets 24200 - 25000 - 26000 - 27950 - 31000

Note

Got to the nearest resistance at 269. Possible retest of lower support at 261, but in general look bullish

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WiseAnalyze

FREE telegram channels:
Crypto reviews - t.me/WiseAnalyze
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