Ethereum at support
Updated
Ethereum dropped from it's 2800 resistance level on Monday and bounced off it's 2400 support level on Friday. ETH/USD has traded in a wide range in 2024 from it's 4000 area high's mid March and the end of May. To it's 2000 area lows in January, August 5th & September 6th. There's been plenty to trade In between this wide 2000 - 4000 range. Now that we're heading into November I see ETH/USD as a good entry point for a long. The MACDV oscillator set to MFI indicator is at support starting to print lower probability long signals, with a high probability long signal about to be printed.
ETH/USD long trade idea:
long = 2419
stop = 2306
profit = 2776
BBMC levels:
R3 = 2887
R2 = 2776
R1 = 2663
VWMA20 = 2541
S1 = 2419
S2 = 2306
S3 = 2196
Note
Note
Ethereum hit R1 on Wednesday and dropped back down to S1.
Trade closed manually
Trading indicators:
tradingview.com/u/Options360/
tradingview.com/u/Options360/
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.