Ethereum is up by 50% since our entry on that coin, where we already took some decent profits as well (more than 60%). Despite us seeing further movement to upper zones, price has fallen for now to the major EMA line (200), where we need to see dominance fall back into buyers to see our second target reached.
With that being said, we are looking for upward movement towards our second target, from where we expect to see another wave of correction, similar to what we are seeing right now.
Swallow Academy
With that being said, we are looking for upward movement towards our second target, from where we expect to see another wave of correction, similar to what we are seeing right now.
Swallow Academy
Note
Ethereum had a good rally, but now we are seeing the dominance has fallen to sellers. While seeing the smaller correction that we have been looking for, we are seeing the price fall towards the 100EMA, where we expect to see another upward movement from there on.
So the game plan is simple here: we wait for clarity and proper touch to the 100EMA before looking for a long position on ETH.
Note
Ethereum started with decent upward movement after we recently filled the bearish CME gap near $2346, which also marked the successful retest of the broken area (on bigger timeframes).
We are monitoring that area still but seeing the dominance from buyers, we might be seeing a good upwards movement and breakout happening very soon so eyes on resistance!!
Note
Seeing the slight overweight by buyers, we are still looking for our local resistance zone to be retested, considering the current demand for upward movement on the socials. We are waiting for that resistance to be touched, after which we will be monitoring the price development and seeing if we get any proper breakouts with retests from there (PLAN A), or we see a good rejection and MSB to form (PLAN B).
Note
Ethereum has reached an important zone where this area will decide in which direction our next bigger movement. For now we are just going to wait and not rush into any trade but as soon as we see any kind of BOS to form or proper rejection with MSB, we are going to look for proper movement to lower zones.
Note
Buyers are pressing the local high on ETH, where we are looking for a proper breakout to happen soon, so we are switching ourselves to a PLAN A scenario.
As soon as we see some kind of breakout to form, we will be looking for an entry for a long position here so watch closely.
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Keep an eye on us and you will not regret it. 😉
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Disclaimer
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🚨 Authentic Traders
⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
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.