#ETH
The price is moving within a descending channel on the 1-hour timeframe and has reached the lower boundary. It is now poised for a bounce and is expected to retest this boundary.
The Relative Strength Index (RSI) indicates a downward trend, which is likely to continue given the overbought conditions.
There is a key support zone (in green) at 1750, and the price has bounced off this zone several times, making it a strong support level.
The price is trending towards the 100-period moving average, which we are approaching. This trend supports an upward move.
Entry Price: 1870
First Target: 1895
Second Target: 1920
Third Target: 1946
You can stop at the first and second targets and close the price, or continue towards the third target. Stop Loss: At the resistance zone (in green).
Remember this simple rule: Money Management.
Any questions? Please leave a comment.
Thank you.
The price is moving within a descending channel on the 1-hour timeframe and has reached the lower boundary. It is now poised for a bounce and is expected to retest this boundary.
The Relative Strength Index (RSI) indicates a downward trend, which is likely to continue given the overbought conditions.
There is a key support zone (in green) at 1750, and the price has bounced off this zone several times, making it a strong support level.
The price is trending towards the 100-period moving average, which we are approaching. This trend supports an upward move.
Entry Price: 1870
First Target: 1895
Second Target: 1920
Third Target: 1946
You can stop at the first and second targets and close the price, or continue towards the third target. Stop Loss: At the resistance zone (in green).
Remember this simple rule: Money Management.
Any questions? Please leave a comment.
Thank you.
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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.
🚨 For More Signals Join Telegram Channel ( Futures/Spot )
Futures
👉 t.me/CryptoSignalFuturesSpot
Spot
👉 t.me/CryptoSignalsSpotFree
Futures
👉 t.me/CryptoSignalFuturesSpot
Spot
👉 t.me/CryptoSignalsSpotFree
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.