ETHUSD: Ethereum just bounced off; will it test $200?ETHUSD is rising following bitcoin, it's not clear for now - is it a run to test $190-$200 2nd time or just a small pullback before further fall.
Anyway I have a couple of scalp setups here.
Long scalp, where we can try to buy $177-178 with target around $190, i.e buying pullback of the bullish trend (intraday).
Or short scalp, I like the most, short ~ $195 with targets at $170 and maybe $150.
Currently I'm sitting on the sidelines.
Hit the "LIKE" button and follow to support, thank you.
Information is just for educational purposes, never financial advice. Always do your own research.
Ethereumtrading
ETHEREUM Aiming for the next resistance at 225.ETHUSD is extending the Channel Up on the 1D chart since December 2019 low. Currently it is attempting a break out above the 199 Resistance.
Levels to watch:
- The Resistance is at 225.00 while the Support at 153.50.
- The former 199.00 Resistance is being tested at the moment.
- The MA50 is now on the 153.50 Support.
- The price is above the MA200 for the first time since September 2019.
Projection:
- Even though it is still marginal, the break above the 199.00 level is a call for further upside within the Channel Up. The 225.00 Resistance fits well with a new Higher High. Also the extension from the latest Higher Low will be 45%, similar to the last Higher High extension.
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ETH (Ethereum) followed the general market trendThe ether started trading on Monday, October 21 by moving up to $178 during intraday. Buyers, however, could not hold to their gains and dropped back down to $174 without being able to escape from the downtrend channel.
On Tuesday, October 22, it lost another 1.7 percent and fell even lower to $171.
We found the ETH/USD pair breaking both $170 and $165 supports on Wednesday, October 23 as the Facebook Libra hearings heavily impacted the whole cryptocurrency market. The ETH coin lost 5.2 percent and closed the day at $162. Bears were even able to push price down to $153 at some point during the session.
The last time ETH was trading this low was in April 2019. The $152-150 zone looks like solid support and was already defended twice in September