Monday- 7/11- Looking at the 4 Hour Eth/USD Chart
ETH currently sitting on $530, waiting on short term bullish signal from crossover in MACD (middle box), RSI is 30
.50 Fib retracement level around $570 should result in a further downward move and lookout below as there is little support until around $420
It is worth noting that BTC went through a "blody sunday" yesterday and ETH may be in for the residual affects
Looking to accumulate around $415 and below
This could setup as a nice swing trade once retrace finalizes and uptrend is confirmed.
Will be looking to hit target $600 in next 2-3 weeks for 45% gains
ETH currently sitting on $530, waiting on short term bullish signal from crossover in MACD (middle box), RSI is 30
.50 Fib retracement level around $570 should result in a further downward move and lookout below as there is little support until around $420
It is worth noting that BTC went through a "blody sunday" yesterday and ETH may be in for the residual affects
Looking to accumulate around $415 and below
This could setup as a nice swing trade once retrace finalizes and uptrend is confirmed.
Will be looking to hit target $600 in next 2-3 weeks for 45% gains
Note
Note
Zoomed in view of some possible moves by ETH this week. Short term down and bounce off previous support or short term up into .50 retracement level, then down into support from there.
Expecting low volume in the current sleepy markets.
I think it will fail to break level $560-$570 and ultimately end up falling through previous support to new lows around $420-$405
Will wait to see if this plays out through the week
Note
Note
Price dancing around .23 fib retrace levelWatching closely to see which way it breaks
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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.