ETH: AT RESISTANCE! STAY CAUTIOUS!!
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Welcome to this ETH update.
ETH did quite a good rally in recent days and currently trading above $1700 level.
According to this 1day chart, ETH is facing horizontal and trendline resistance confluence here. We need to break above this resistance for a further bullish rally in the market. RSI is also facing resistance and in overbought zone.
So what's the plan here?
1st scenario:- I'm buying ETH at pullback around $1550-$1600 level only if it holds.
2nd scenario:- If ETH gives a breakout from here without any pullback then I'm buying with the target of $2300-$2500
As of now I'm waiting patiently for either a breakout or a pullback.
Hope this chart will help you. If you have any queries or ideas then share in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Welcome to this ETH update.
ETH did quite a good rally in recent days and currently trading above $1700 level.
According to this 1day chart, ETH is facing horizontal and trendline resistance confluence here. We need to break above this resistance for a further bullish rally in the market. RSI is also facing resistance and in overbought zone.
So what's the plan here?
1st scenario:- I'm buying ETH at pullback around $1550-$1600 level only if it holds.
2nd scenario:- If ETH gives a breakout from here without any pullback then I'm buying with the target of $2300-$2500
As of now I'm waiting patiently for either a breakout or a pullback.
Hope this chart will help you. If you have any queries or ideas then share in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
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