Ether is currently trading in a well formed rising wedge. This is an indication of a bearish move and there are possibilities it may breach the bottom trend line (orange). If it breaches it then it will find support at fib level 0.618 (~$693). 2nd support could be found at fib level 0.5 (~$676).
These support levels could be possible reversal zones for Eth (The ...
ETH / USD
Target 550 plus
1) Price retraces to previous resistance, which ideally should be a support.
2) Price resting on a long term support trend line.
3) Price just above 30 ma support.
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.
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