ETH/USD : Buy Setup | RR 3.86 | Bounced of the 20-day EMA
Updated
ETHUSDHello everyone 😃
ETH bounced of the 20-day EMA.
The bulls will now try to thrust the price above the 2550$ to 2650$ resistance zone.
Also; ETH had a breakout from it's bullish trendline on 26th April...
Now there are two located bullish trendline which will controls ETH's movement from below !
As well as trendlines; There are two stiff support zone that could be a reversal point if ETH reject current resistance zone.
📌 RSI has formed a repetition continues movement on 4H TF;
According to this data; We may see continuation on RSI for limited target till 77.6 !
Have to mention that on daily view; The upsloping moving averages and the RSI above 63 suggest the bulls have the upper hand.
📚 Could be good to buy a bag; If market gives us this opportunity to see ETH around 2450$ again.
🔴 However, if the price turns down from the resistance zone, The bears may again pull the price down to the 20-day EMA.
If this support rejects ETH, Then it could drop to 2040$;
A bounce of this support could keep ETH range-bound between 2040$ and 2650$ for a few days.
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