ETH USD Downward Channel!!!
ETH USD has been in a bearish channel since 14 January 2019. It is currently at the bottom of the channel, which gives a probable opportunity to enter the daily long position. Key support is $97-$101. A decisive break below the trend may send the price to the $62 range (unlikely at this time), a price break above this trend will send the price to the $131 range of resistance. Longer term channel may be referred to from my previous ETHUSD post (tradingview.com/chart/ETHUSD/GJHn8qA3-ETHUSD-Bearish-Downtrend/)
Bullish divergence and a clear SMII upwards will indicate opportunity to enter for a daily long position. Target on the long is the 100 EMA or roughly $112, with a SL around $97.
Please like, comment and share if you enjoy the chart analysis. Happy Trading :0)
This is only my perspective on a probable direction of the ETH price and for educational purposes. This is not advice on selling or buying ETH.
Bullish divergence and a clear SMII upwards will indicate opportunity to enter for a daily long position. Target on the long is the 100 EMA or roughly $112, with a SL around $97.
Please like, comment and share if you enjoy the chart analysis. Happy Trading :0)
This is only my perspective on a probable direction of the ETH price and for educational purposes. This is not advice on selling or buying ETH.
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.