Ethereum has become bullish on 2hr chart with price above the cloud and a potential retest of 369-375 zone quite likely, which is a thin resistance zone and if it successfully breaches it on a candle close, the stronger resistance zone of 392-400 will be tested.
With Momentum, Ethereum will gain the escape velocity to break out into massive range area to see 475-500 zone.
These are visually shown on chart. The near strong support area is 340-350 zone which could become a thin support if price ranges in this zone for long and if it breaks below (also Kumo zone for bear moves), a potential retest of strong support zone of 305-320.
For now, its a long. Progress will be monitored.
With Momentum, Ethereum will gain the escape velocity to break out into massive range area to see 475-500 zone.
These are visually shown on chart. The near strong support area is 340-350 zone which could become a thin support if price ranges in this zone for long and if it breaks below (also Kumo zone for bear moves), a potential retest of strong support zone of 305-320.
For now, its a long. Progress will be monitored.
Note
Testing the Target Zone 1 - Took some profits here and moved SL for rest well above entry. The current zone is the magnet range and if the price manages to breach the top of the zone, 390-400 Heavy Resistance zone test will be highly likely.
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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.
Get in touch with me if you would like access to my Premium scripts for a trial before deciding on lifetime access.
Telegram - @Trade_Chartist
Free Scripts - bit.ly/Free-Scripts
Telegram - @Trade_Chartist
Free Scripts - bit.ly/Free-Scripts
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.