Ethereum is at the Crucial Support!
Hi, Traders ! Monfex is on the air !
As we projected, Ethereum descended to the important Support level near $150. Let's see what's next !
* Ethereum stays within a downtrend channel under the 21 Daily EMA.
* In the recent slump from $174 to $153, ETH has lost more than 10% in value and touched the ground on slightly increased Volume.
* Since the price keeps under 21 EMA and the downtrend spreads across the major cryptos, further decline of ETH prices to $110 area is likely.
* Indicators also suppose more downside with RSI is around 40 level and MACD extending into the negative territory.
* At the same time, a short-term speculative Long from the recent Support area of $152 - $155 to $166 - $168 level could play out. Tight stop-loss is applicable in this case.
* Mid-term outlook is still Down unless we see the price action alterations.
Speculative trade signal
Buy @ $152 - $155
Target: $166 - $168
Stop-loss: $150
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
As we projected, Ethereum descended to the important Support level near $150. Let's see what's next !
* Ethereum stays within a downtrend channel under the 21 Daily EMA.
* In the recent slump from $174 to $153, ETH has lost more than 10% in value and touched the ground on slightly increased Volume.
* Since the price keeps under 21 EMA and the downtrend spreads across the major cryptos, further decline of ETH prices to $110 area is likely.
* Indicators also suppose more downside with RSI is around 40 level and MACD extending into the negative territory.
* At the same time, a short-term speculative Long from the recent Support area of $152 - $155 to $166 - $168 level could play out. Tight stop-loss is applicable in this case.
* Mid-term outlook is still Down unless we see the price action alterations.
Speculative trade signal
Buy @ $152 - $155
Target: $166 - $168
Stop-loss: $150
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Related publications
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.