Ethereum: The Price is Seeking Support
Hello, my friends! My name is Ivan. I am a stock market trader and right now I am also trading cryptocurrencies. I want to share my Ethereum overview.
Negative scenario: If the price breaks the blue support line and forms a wave under that support, this support will become a resistance and the downtrend will be confirmed.
Positive scenario: If the price jumps above the blue support and stays above it — there is a chance for a positive move.
Personally, I believe in the negative scenario. If you see that the price stopped below the blue line and can’t go above it – it’s time to sell. Low risk and high reward potential.
Thanks for reading my overview. Join my website CryptomarketInvestor.com for more trading tips and great trading ideas. Members always receive notifications about important articles.
- The price is forming so-called “head and shoulders” pattern. It’s not confirmed yet.
Negative scenario: If the price breaks the blue support line and forms a wave under that support, this support will become a resistance and the downtrend will be confirmed.
Positive scenario: If the price jumps above the blue support and stays above it — there is a chance for a positive move.
Personally, I believe in the negative scenario. If you see that the price stopped below the blue line and can’t go above it – it’s time to sell. Low risk and high reward potential.
Thanks for reading my overview. Join my website CryptomarketInvestor.com for more trading tips and great trading ideas. Members always receive notifications about important articles.
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.