Hello, Traders
Buyers managed to keep the price in the range of $1740 - $1960.
Later on, growth began based on the news about the "London" hard fork. The essence of this hard fork is the launch of a deflationary model, where part of ETH, which is used to pay commissions, will be burned.
Like Bitcoin, the technical picture of the pair has improved during the last two weeks. MA100 at the daily and 12H timeframes is supporting the price, while the RSI indicator is in the bullish zone.
Cluster and volume analysis shows large purchases in the range of $2200 - $2400.
The growth with minimal pullbacks always ends with a correction, after which it is possible to connect to the purchases.
The position is best formed in several parts :
The main part in the range of $2140 - $2390.
The second part in case of a bullish correction within the range of $2455 - $2625
The third for the case of a deep correction in the range of $1960 - $2040
Stop-loss can be placed under the level of $1845
The targets for such purchases will be price levels of
$3200
$3590
$3800
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
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.
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.