ETH Hammer Candle!
Updated
We have a clear hammer candle on the 4-hr chart for ETH right at critical support. This paired with the deeply oversold RSI and high volume indicate a counter trend rally is imminent.
The resistances to watch and seek as targets for this swing trade are $400 and the orange downtrend line from the recent high. Stop loss set at $350 which can be moved higher if the trade plays out.
Happy Trading :)
-Yoshi
The resistances to watch and seek as targets for this swing trade are $400 and the orange downtrend line from the recent high. Stop loss set at $350 which can be moved higher if the trade plays out.
Happy Trading :)
-Yoshi
Note
Note
ETH price is struggling to hold above the $360 support/resistance. The aforementioned pennant has transformed into a rising wedge which suggests a breakdown is likely. keeping this trade open for now with a stop set at 350. Trade closed: stop reached
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