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With making all time high , ETHUSD will settle down a little bit.
One can enter trade at 339-440 with stop loss at 445 with first target of 427.24 , second target at 422.06.
RSI and MACD are also indicating the same.
I see a nice symmetric triangle formation in the daily chart and the accumulation has happened since a long time.
RSI is high, but i think there is some more room for the buyers.
MACD seems to have confirmed the uptrend.
The candles are at the resistance line and on the verge of a break out. Watch out!
I'd like to go long around the dotted resistance line.
pattern has given a breakout 2 days back .
this is the pullback and best time to enter the trade .
LEVELS SHOWN IN CHART.
My assuemption is that ETH will cross this present trend and come out of pressure of consolidation.
Expecting it to go up.
Do points 'A' and 'B' seem like potential buy levels with and eventually to 'C'?
disclaimer: viewer are advised to trade at their own risk.
POSITIONAL TRADE SETUP
ethusd giving a nice breakout from diagonal channel of 5 days.
levels explained in chart.
From my last update , Ether was huge bullish and about to touch $400 by next month end. (refer old chart) . however things have changed and more fall is certain on charts till $245
A bounce can take it $307 level
lets wait for 24 hours
Expect Ethereum's Hard Fork To Spark Ether's Bull Run
Buy ETHUSD at CMP (340+)
ETH long position on trend (300 Support) reversal.
Trade entry - 300.90
SL - 300.45
Target - 304.17
Possible movement of price action is marked in white and pink color arrows.
Price action is forming rounding top. Price will fall further before moving up.