Pretty nice weekly setup on Ethereum.
* Price above MA20/W
* RSI / Stoch RSI on the rise.
* MACD about to crossover
A weekly close on volume above Par SAR (about 2882$ currently, falling) would signal inversion and prefigure a quick move towards 3300-3400$ area, edge of upper Bollinger band.
In case such scenario happens, let's have a look at monthly picture.
As you may notice, price is currently consolidating at support. A move up on W assisted by volume would likely ignite a stronger move toward 3800-4000$ area within few months.
Meaning a (conservative) 30% upside.
Watch it closely.
* Price above MA20/W
* RSI / Stoch RSI on the rise.
* MACD about to crossover
A weekly close on volume above Par SAR (about 2882$ currently, falling) would signal inversion and prefigure a quick move towards 3300-3400$ area, edge of upper Bollinger band.
In case such scenario happens, let's have a look at monthly picture.
As you may notice, price is currently consolidating at support. A move up on W assisted by volume would likely ignite a stronger move toward 3800-4000$ area within few months.
Meaning a (conservative) 30% upside.
Watch it closely.
Trade active
For sake of completeness: (short term) invalidation in case of rejection and weekly close below MA20/W (about 2736$)Note
This was meant to be a note, sorry.Actuale entry signal would be a close above 2880$ (and inherently Par SAR inversion), as I wrote above.
Note
Par SAR inversion achieved already.Watch weekly close.
Trade closed: target reached
First target reached already.
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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.