Hello folks, here's a quick update on ETH.
Timeframe: 2 hours.
Update: ETH is at the edge of a bounce back or a drop-down. Things are pretty clear and I don't need to explain much. If ETH breaks and closes below $1500 then $1366 would be the next support level. and if it bounces back then ETH will face the 21 MA resistance and then the upper trendline.
Conclusion: Be ready for both long and short opportunities.
I'll update more on this, until then trade safely.
Timeframe: 2 hours.
Update: ETH is at the edge of a bounce back or a drop-down. Things are pretty clear and I don't need to explain much. If ETH breaks and closes below $1500 then $1366 would be the next support level. and if it bounces back then ETH will face the 21 MA resistance and then the upper trendline.
Conclusion: Be ready for both long and short opportunities.
I'll update more on this, until then trade safely.
Note
ETH update:
Right on top! ETH did bounce back from the support line. Now, all we need is ETH to reach the $1680 resistance level.
I hope my update was helpful and you guys made some profit on ETH.
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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.