After a prolong quiet period, ETH saw a good rally against USD, gaining almost 75% in no time.
What we are seeing in ETH now is an expected correction and consolidation. Formation looks like a possible bullish flag with buy area defined through green box on the chart. This buy zone is validated by approaching 21MA support and the 50% Fib level.
However, traders can go long if the flag is confirmed and price moves above 675 level.
Target in both scenarios would be 900-930 USD with stop loss below 545 closing on a daily candle.
Happy trading :)
What we are seeing in ETH now is an expected correction and consolidation. Formation looks like a possible bullish flag with buy area defined through green box on the chart. This buy zone is validated by approaching 21MA support and the 50% Fib level.
However, traders can go long if the flag is confirmed and price moves above 675 level.
Target in both scenarios would be 900-930 USD with stop loss below 545 closing on a daily candle.
Happy trading :)
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.