ETH/USD has pushed above $2800, a key level it has done significant work either side of going back to 2022. Having broken above the important 200-day moving average earlier this week, and with indicators like RSI (14) and MACD pointing to growing topside momentum, a close above $2800 may encourage other bulls to join in the run higher.
If the price can hold $2800, longs could be established above the level with a stop below for protection. The price action around $2800 during February reinforces the need to see the breakout stick before entering the trade.
$3000 screens as a potential target, as does $3525—the 78.6% retracement of the December–April bear move. Beyond, $3750 was tagged on multiple occasions late last year, making it another possibility before the record highs come into view.
If the price is unable to stick the $2800 break, the setup would be invalidated.
Good luck!
DS
If the price can hold $2800, longs could be established above the level with a stop below for protection. The price action around $2800 during February reinforces the need to see the breakout stick before entering the trade.
$3000 screens as a potential target, as does $3525—the 78.6% retracement of the December–April bear move. Beyond, $3750 was tagged on multiple occasions late last year, making it another possibility before the record highs come into view.
If the price is unable to stick the $2800 break, the setup would be invalidated.
Good luck!
DS
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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.
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.