ETHUSDT Analytical review
The instrument is currently in a medium-term uptrend. The current market power on a scale of zero to one hundred is 56. Buying is recommended. Locally, the price has formed an ascending price channel and is currently trading inside it. The lower boundary of the channel is at the level of 1606.07, while the upper boundary is at the level of 1777.86. Considering both the local and global trends, continuation of growth is more likely in the speculative and medium-term. If there is a breakthrough and fixation above the level of 1777.86, as well as a rebound from the level of 1606.07, opening long positions may be possible. Breaking through and fixing below the lower boundary may break the current local uptrend, and in this case, speculative sales may be possible. However, a medium-term short position may be considered when the price drops and fixes below the level of 1540.76, in which case it will be possible to talk about a reversal of the medium-term trend downwards
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ETHUSDT Analytical review. The instrument is in a medium-term uptrend. The current market strength on a scale of zero to one hundred is fifty. It is recommended to work on the long side. Locally, there is a tendency for a decline as the price attempts to turn around, exiting the ascending channel with a lower boundary around 1607.99. Below this level, speculative sales are possible. In the event of a return to the channel and consolidation within it, the likelihood of a successful short sharply decreases, and it is recommended to work only on purchases. A breakthrough of the upper boundary of the channel at 1779.78 will indicate an acceleration of the current uptrend. However, a reversal of the medium-term trend downwards is possible if the price drops and consolidates below the level of 1540.76
Trade closed: stop reached
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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.