Ethereum is back at 200 EMA, where buyers are not giving the area away so easily, yet sellers still show the pressure. What we noticed was that RSI stabilized here, giving us an opportunity for a proper breakout to happen, which would lead us to our upper targets being reached on a bigger timeframe.
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Swallow Academy
Note
Ethereum is showing some strong signs of upward movement, where we are testing the local high area after a successful retest of the 200EMA.
We are looking for a breakout from here, which would then give us a good movement to upper zones toward the $3000 area.
Note
Ethereum is still pushy near the local high area, where we are looking for a breakout to happen. Meanwhile, nothing much has changed since yesterday, but what we see is that pressure is pretty big (from bulls), so $3,000-$3,300 can be reached easily if we keep the same momentum on!
Note
There are lots of uncertainties near the current area where both buyers and sellers are fighting over dominance near the current zone, as this will determine if we will bounce from here towards our upper targets (above $3000) or if we will retest the first 100 EMA before seeing another bullish movement.
The key zone is the $3000 area, which we have marked as psychological resistance. One way or another, we should reach this zone!
Note
A strong selloff happened recently, which led the price to the 200EMA line, where, similar to last time we touched that area, we are seeing some kind of bullish overtake happening.
Now, as markets are very unpredictable currently, we are looking for a full buyside takeover to happen near the current zone, which would then mean that our game plan will remain the same: movement to $3000.
Now, if sellers continue to show dominance, we might be seeing a very nasty drop from here so keep your eyes wide open at the 200EMA line.
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Keep an eye on us and you will not regret it. ๐
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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.
๐จ Authentic Traders
โก๏ธ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. ๐
Telegram: t.me/+fiEDSn7M9pJkODA0
โก๏ธ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. ๐
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.