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Etherium

ETH/USDT: Preparing for a Key Breakout from Descending WedgeEthereum (ETH/USDT) is consolidating within a descending wedge, a pattern that often precedes a bullish breakout. Here's an in-depth analysis of the setup: 1. Price Structure and Trend Overview: The price has been consistently respecting the wedge boundaries, with a well-defined resistance line near $3,400-$3,450 and a critical support zone around $3,200. Multiple "Change of Character" (CHoCH) points in recent sessions indicate significant battles between buyers and sellers, signaling potential momentum shifts. The larger trend remains neutral-to-bullish as ETH holds key supports and continues to form higher lows on the longer timeframe. 2. Momentum Indicators: RSI (Relative Strength Index): Currently hovering near 50, indicating a balance between bullish and bearish forces. No oversold or overbought conditions are evident, but bullish divergence could emerge as ETH approaches the wedge apex. MACD (Moving Average Convergence Divergence): The MACD line is close to crossing the signal line on the 4-hour chart, which would signal bullish momentum. Histogram bars are narrowing, suggesting a breakout is imminent. ADX (Average Directional Index): ADX remains below 25, confirming the current low-volatility consolidation phase. A sharp move will follow as ETH exits the wedge pattern. 3. Volume and Market Sentiment: Volume has been tapering off, a classic characteristic before a significant price movement. Accumulation zones are visible around $3,200-$3,300, where buyers are stepping in. Momentum volume is expected to surge upon a breakout, and this would confirm directional bias. 4. Trade Setup: A. Entry Points: Conservative Approach: Enter after a confirmed breakout above $3,450, ideally accompanied by a volume surge. Aggressive Approach: Start scaling in near $3,300, with the wedge support acting as a cushion. B. Stop Loss (SL): Place a tight stop-loss below the $3,189 level to mitigate risks of false breakouts or downward continuation. C. Take Profit (TP): TP-1: $4,400 - A short-term target, aligning with historical resistance and high-volume zones (70-80% confidence). TP-2: $4,800 - Medium-term target, capturing the measured move from the wedge breakout (50% probability). TP-3: $5,800 - Long-term bullish target if momentum builds strongly. 5. Key Observations: Breakout Timing: ETH is nearing the apex of the wedge, suggesting that a decisive move will occur soon, likely within the next 24-48 hours. Bearish Scenario: Failure to break above $3,450 would see ETH retest lower supports at $3,200, with further downside risks to $3,000. Bullish Scenario: A clean breakout with a strong volume spike could propel ETH toward the targets, especially as momentum aligns with technical patterns. Actionable Plan: Monitor Levels: $3,450 is the key resistance to break. Use this as the confirmation level for entering trades. Volume Confirmation: Ensure breakout is supported by high volume, validating the directional bias. Risk Management: Maintain a strict risk-to-reward ratio with SL at $3,189 and defined profit targets. Conclusion: Ethereum is at a pivotal point, with the descending wedge pattern signaling an imminent breakout. A bullish breakout appears more probable, but traders must exercise caution until confirmation. Patience and discipline in managing risk will be critical for capitalizing on this setup. Advice: Market sentiment can change anytime. Focus on proper risk management and trade cautiously to protect your capital.
Long
by MyTradingJournal6th
3
BnB is on the wayBnb usdt Daily analysis Time frame 4hours Target 900$ Close Target is upperside of the band We hear a lot of news about major crypto companies collaborating, as well as corporate acquisitions and filling the coffers with valuable cryptocurrencies. But there is no volume in the market. We are not seeing the growth that we expect to hear after all this good news.😒 What is the reason? The answer is one word. 👉Strategic patience. 👈 Wait, this is the beginning. The rockets are refueling for a long, long launch.🚀🚀🚀
Long
by Habib-Tafazoli
Ethereum's 25% Drop = Massive Bullish Opportunity!🔥 Ethereum Bullish Opportunity 🚀 Why the Bullish Sentiment? 💎 Massive Correction: ETHUSD has dropped 25% in the past month, presenting an attractive entry point for long-term investors and traders. 📊 Fibonacci Levels in Play: Price is bouncing off key Fibonacci retracement levels, signaling a recovery: Trade Plan : 🎯 Entry: 3,050 🎯Take Profit 1 ($3,300): Close to the 0.236 Fibonacci level, acting as the first resistance. 🎯Take Profit 2 ( $3,530): A target near the 0.50 Fibonacci retracement level, offering mid-range gains. 🏆Take Profit 3 ($3,740): A breakout move above the 0.618 Fibonacci level, marking a strong continuation. 🛡 Stop Loss: $2,800, placed below the Demand Zone to protect your position. 📈The ETH/BTC ratio is currently at 0.034, one of the lowest levels since April 2021. The last time the ETH/BTC ratio hit a low of 0.032 in November last year, Ethereum’s price skyrocketed from this exact level to $4,000 in less than 3 weeks. 📈 Demand Zone Support: Price is holding above the $3,000 Demand Zone, a historically strong level for reversals and bullish momentum. With a strong historical pattern and technical alignment, Ethereum could be poised for another explosive move! Don't miss out on this setup! 🚀 👉 Ready to take action? Let’s ride this wave together and see where it takes us! Drop your thoughts or questions in the comments below!
BITSTAMP:ETHUSDLong
by ValchevFinance
$MANTA will rebound ?OMXHEX:MANTA is coin that having huge pros & cons, while since March we see that this coin dumped so deep from $3,8 to $0,6. Now hovering around $0,94 as i write this idea. MANTA will rebound to $1,5 at least, if market still Fear, still good. but to reclaim $3,8 level? still we have to monitor and MANTA have to gain public trust again. somehow, i still have to say, this crypto coin isnt that bad, good project, good prospect i think. let see MANTA at $1,5 first.
Long
by ade_eins
Ethereum Bullish: $5,000 & $7,000 by soon?Ethereum (ETH) appears to have significant bullish potential in the near term. Based on the current technical indicators, I believe ETH could reach $5,000 relatively soon and potentially move towards $7,000 within the next 1-2 years. While I may not be a dedicated crypto trader or heavy investor, the fundamentals supporting Ethereum’s growth remain strong. Key drivers include continued adoption of DeFi (Decentralized Finance), Ethereum 2.0 upgrades, and increasing institutional interest. Additionally, macro factors such as U.S. regulatory policies, which may favor crypto adoption, further support this bullish outlook. Given the historical context of growing interest in cryptocurrencies under previous administrations, along with America’s clear intent to become a leading crypto holder, these targets appear conservative. The current technical structure suggests ETH has the potential to continue its upward trajectory, especially as it consolidates around the $3,700 - $3,900 range. In conclusion, I remain highly optimistic about Ethereum’s prospects, with a target of $5,000 and $7,000 over the next 1-2 years. This is not financial advice, just my personal view!
FOREXCOM:ETHUSDLong
by Charts_M7M
Is Now the Time to Invest in Ethereum ETFs? The Ethereum Rally, Fueled by Institutional Interest Ethereum, the world's second-largest cryptocurrency by market capitalization, has seen a resurgence in recent months, driven in part by a surge in inflows into Ethereum exchange-traded funds (ETFs).1 This renewed institutional interest has propelled Ethereum's price higher and solidified its position as a major player in the digital asset landscape. The Impact of Ethereum ETFs The approval of spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC) in October 2023 marked a significant milestone for the cryptocurrency industry. These ETFs provide a more accessible and regulated way for traditional investors to gain exposure to Ethereum.2 As a result, institutional investors, such as pension funds and hedge funds, have been flocking to these ETFs, driving significant inflows. Why the Surge in Interest? Several factors have contributed to the increased interest in Ethereum and its associated ETFs: 1. Technological Advancements: Ethereum's underlying technology, the Ethereum blockchain, has undergone significant upgrades, including the highly anticipated Shanghai upgrade, which enabled withdrawals of staked Ether.3 These advancements have enhanced the network's scalability, security, and efficiency, making it more attractive to developers and investors alike. 2. Diverse Ecosystem: Ethereum's robust ecosystem, which encompasses a wide range of decentralized applications (dApps) and smart contracts, has continued to expand.4 From decentralized finance (DeFi) protocols to non-fungible tokens (NFTs), Ethereum has become the go-to platform for many innovative projects.5 3. Institutional Adoption: The increasing adoption of Ethereum by institutional investors has legitimized the cryptocurrency and reduced its perceived risk.6 As more traditional financial institutions recognize the potential of blockchain technology, they are allocating a portion of their portfolios to digital assets, including Ethereum.7 4. Regulatory Clarity: While regulatory uncertainty remains a concern in the cryptocurrency industry, the SEC's approval of Ethereum ETFs signals a more favorable regulatory environment. This increased regulatory clarity has boosted investor confidence and encouraged further institutional investment. The Future of Ethereum As Ethereum continues to evolve and mature, its future prospects remain bright. The ongoing development of Layer-2 scaling solutions, such as Optimism and Arbitrum, aims to address scalability issues and reduce transaction fees.8 Additionally, the emergence of decentralized autonomous organizations (DAOs) and other innovative applications built on Ethereum is further expanding the ecosystem's potential. However, it's important to note that the cryptocurrency market is inherently volatile, and Ethereum's price can fluctuate significantly. Investors should conduct thorough research and consider the risks involved before investing in Ethereum or Ethereum-based products. The surge in Ethereum ETF inflows is a testament to the growing institutional interest in the cryptocurrency. As the technology continues to advance and the regulatory landscape becomes more favorable, Ethereum is well-positioned to play a crucial role in the future of finance and technology.
COINBASE:ETHUSDLong
by bryandowningqln
ETH Price Setup: Why $2,840 Could Spark the Next Big Move BINANCE:ETHUSD has been underperforming compared to BINANCE:BTCUSD and some other major cryptocurrencies, yet recent developments hint at a potential shift. Despite facing a significant resistance cluster, ETH has shown resilience by breaking above a key volume profile Point of Control (POC) level on the higher timeframe, signaling the early stages of a bullish sentiment shift. However, to sustain this momentum, CRYPTOCAP:ETH needs to conquer a critical resistance zone, marked by a 1-week Fair Value Gap (1W FVG) and a 1-day Order Block (1D OB) – a challenging area that will likely test ETH’s ability to break out. Chart Analysis: Key Levels to Watch Major Resistance Zone (1W FVG & 1D OB) The most immediate challenge for ETH is closing above the resistance zone around $2,840. This area is crucial because it combines a 1W FVG and 1D OB, both of which create a barrier that ETH needs to break through for the next leg up. A decisive close above this level on the daily chart would turn the 1D OB into a breaker block, potentially flipping it from resistance to support and laying the foundation for a more sustained bullish displacement. Volume Profile POC Breakout ETH has already broken above the higher timeframe volume profile Point of Control (POC), a positive sign that suggests market interest and liquidity are shifting upwards. This break above the POC adds to the semi-bullish case, as it often signals a potential move towards filling the FVG above. Entry Into the 1W FVG (SIBI) Should ETH successfully close above the $2,840 level, it would enter the 1W FVG, opening up the possibility for a larger upward move. Once in this zone, buyers could gain confidence, triggering additional buy-side liquidity and a rally towards $3,100 - $3,300. Trade Setups Swing Trade Setup Entry: Look for a close above $2,840. Ideally, wait for a retest of this level to confirm it as a breaker block before entering long. Target: Primary Target: $3,100 - within the 1W FVG zone. Secondary Target: $3,300 - higher end of the FVG, where resistance may intensify. Stop Loss: Set below the 1D OB, around $2,750, to protect against a failed breakout and retracement. Rationale: A breakout and successful retest of $2,840 would signal strength, allowing ETH to push into the FVG and potentially rally toward $3,300. If buyers are strong, this could lead to a medium-term bullish trend. Scalping Setup Entry: Enter long on quick pullbacks to $2,750 - $2,770, close to the 1D OB support zone, or during any small dips within this range. Target: First target at $2,840 for a quick profit. Second target around $2,900 - $2,950 if momentum is strong. Stop Loss: $2,730, slightly below the 1D OB level to protect against larger sell-offs. Rationale: For scalpers, buying dips around the 1D OB level provides a quick entry with a high probability of retesting the resistance at $2,840. This setup allows for short-term gains while taking advantage of potential volatility near the key resistance area. Looking forward to hearing your thoughts on this! Trade safe folks, Cheers
Long
by MadeByAK
COIN Technical Analysis: Wave (4) Correction Nearing CompletionTechnical analysis chart of the cryptocurrency "COIN" using Elliott Wave Theory. Elliott Wave Theory is a technical analysis method that suggests that financial markets move in predictable patterns based on a series of five waves. The information provided in this post is for educational purposes only and should not be considered as financial advice. There is a risk of being completely wrong, and users are warned not to trade or invest solely based on this study. The content is not an advisory and does not guarantee profits. We are not responsible for any kind of profits and losses; individuals should consult a financial advisor before making any trading or investment decisions. Based on the chart, we had identified a potential impulse wave pattern from January 2023 to the present. An impulse wave pattern consists of five waves, with each wave labeled (1), (2), (3), (4), and (5). Wave (1): This is the first wave in the impulse pattern and is typically a strong upward trend. In this case, wave (1) appears to have run from the low near 31-32 to a high near 114. Wave (2): This is a corrective wave that moves in the opposite direction of wave (1). It is typically a retracement of wave (1), but it can also extend beyond the starting point of wave (1). Wave (2) appears to have run from the high near 114 to a low near 69. Wave (3): This is the second wave in the impulse pattern and is typically a strongest upward trend that extends most of times. Wave (3) given move from 69 to 283 Wave (4): This is a corrective wave that moves in the opposite direction of wave (3). It is typically a retracement of wave (3). Wave (4) is currently in progress, but at verge of completion now any time. Wave (5): This is the final wave in the impulse pattern and is typically a strong upward trend that completes the pattern. Wave (5) is expected to start soon and could potentially reach the levels of 300 plus. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NASDAQ:COINLong
by RK_Chaarts
9/20 SP500 Hits New ATH While QQQ Lags Behind by 4.2%Overview: The SP500 finally broke its all-time high (ATH), despite a red candle on Wednesday. Meanwhile, QQQ still has another 4.2% to go before reaching its record. Fidelity and Ark were busy accumulating their average amounts of BTC yesterday, while Grayscale and BlackRock remained on the sidelines. Only a modest $5.2 million went into ETH from BlackRock, suggesting they’re cautiously dollar-cost averaging into their preferred assets. TA Weekly: Congratulations, Bulls! The $61.4k level was successfully breached, but the price faced resistance at the next level of $64k. It’s impressive to see how the price reacts to the weekly levels shown on our charts. Since the rate cut, Bitcoin has gained up to +6.60%, currently holding at +4.30%. Although these are modest numbers for crypto, they’re certainly better than a downturn. The weekly chart shows a wick above the Bollinger Band MA, but the current closing price sits exactly at the BB MA of $62.6k, keeping the trend bearish. Daily: After reaching $63.8k yesterday, BTC is now retracing, likely aiming to establish new support at $61.4k. 4-Hour: RSI is overbought at 71.55 and has already begun to correct, as evidenced by the last three red candles. 1-Hour: MACD shows a bearish divergence. We expect BTC to dip to $61.4k and form a new support level. Altcoins vs. BTC: TAO and SUI are leading the gains, with SUI reaching an all-time high in volume, signaling potential insider buying. ETH is up 3.79%, SOL up 6.3%, and TAO up 10%. Bull Case: The rate cut has boosted risky assets, but we need to ensure this isn't just a short-term rally and that BTC can hold the support level. Bear Case: This could be a temporary pump. If the U.S. economy remains strong, the Fed may be hesitant to implement additional rate cuts. Fear and Greed Index: The index is at 48.06, finally out of the Fear territory. Overall, the market remains cautiously optimistic, but staying vigilant is key.
COINBASE:BTCUSD
by EvgenCapital
Ethereum long term price analysis ETHUSDT#ETHUSDT According to our opinion, Ethereum has penetrated the floor of $900 and the purchase order has been cleared at this price level. From above, it has hit its daily true zone QM and after the start of its downward rally, it has cleared its FL or local resistance and is correcting an upward price and starting the next downward step. Liquidity below the weekly long-term trend line confirms this. We move step by step with the price....
Short
by fiftytwohertzwhale
Aug 21Overview: There were no surprises in the Fed’s meeting minutes. "Officials were confident about the direction of inflation and are ready to start easing policy if the data continues to cooperate." However, too many traders are interpreting this as “on September 18th, my $stonks go up.” Don’t be one of them. VANTAGE:SP500 posted another green candle, but momentum is slowing as it approaches its ALH, now just 0.82% away. We might see it by the end of the week, reducing the chances of $ BINANCE:BTCUSDT BTC crashing this weekend. $63.2k is still a possibility for BINANCE:BTCUSDT BTC as it slowly inches closer, needing only a 4.28% increase over the next 2-3 weeks. W: Heading to close this week green. No divergences. D: Finished Wednesday strong, posting a green candle, solidifying the BB MA breakout, and escaping the $60.2k level, which should now turn into support. Expecting to close the week between $60.2k and $63.2k. 4h: No divergences. Range trading. 1h: No divergences. Range trading. Alts Relative to BTC: No divergence relative to BINANCE:BTCUSDT BTC. Bull Case: Same as yesterday. We’ve likely passed the bottom (or an intermediate bottom), and with the booming VANTAGE:SP500 , expected rate cuts each month, and more institutional money flowing into risky assets in September, we should continue marching up. IPO stocks, small-cap tech stocks, and crypto are poised to benefit. Bear Case: Same as yesterday. Fear and Greed Index: Slowly trending higher, now almost exactly in the middle at 49.59. Untradeable. Prediction: Close this week green, then grow to $63k next week before a drop. Opportunities: BINANCE:UNIUSDT UNI Expected to complete its move to $7.52, offering a 7.87% gain. BINANCE:ARUSDT AR, BINANCE:APTUSDT APT, BINANCE:TAOUSDT TAO Have shown better price action in the last couple of days and may continue trading higher next week, as BINANCE:BTCUSDT BTC stays within its range. These moves are not indicator-driven, so proceed with extreme caution and tight stop-losses.
COINBASE:BTCUSD
by EvgenCapital
Aug 17Overview: The cryptocurrency market is currently in a cautious phase. Weekends typically see minimal price swings, though Sunday evenings can bring volatility. Declining open interest suggests a lack of confidence, with traders closing positions and exiting the market. The August 5th liquidations also pushed remaining traders to leave, further reducing market participation. This environment points to continued consolidation, with potential for volatility as the weekend ends. Looking back at BTC’s weekend price action, similar patterns emerge: a crash, a small rebound, approaching the Bollinger Bands moving average (BB MA), and then continued decline. Bearish scenarios include January 15-16, 2022; June 5-6, 2022; and more recently, June 29-30, 2024. A bullish argument is found in May 11-12, 2024, when Saturday and Sunday marked the end of the first bull wave and the start of the second in 2024. However, that was 33 days after the downturn began, while we are currently at day 20. This past week may have been the calm before the storm. Alts Relative to BTC: No divergences. Bull Case: Everyone who wanted to sell has likely sold. Now we wait for an event to trigger a buying spree that could draw a 4th wave on the CRYPTOCAP:BTC chart. Bear Case: No bulls come to the rescue, and the market drops further. Fear and Greed Index: 44.9, rising over the last two days, but given the weekend, it may not carry much weight. W: Range trading, no divergences. D: Reached BB MA and is touching it at $59.9k. 4h: Approached $60.2k for the second time but couldn’t break that daily level. We’re also at the top of the Bollinger Bands range, which is relevant for those trading sideways movements. No divergence. 1h: No divergences, but there’s a bullish inverted head and shoulders pattern. Prediction: Most likely move down significantly, or range trade, then decline. Opportunities: CRYPTOCAP:SOL : Attempting to break the weekly resistance level. NYSE:SUI : Bounced from support and is now trending upward. NYSE:AR and CRYPTOCAP_OLD:RNDR : Sitting on the weekly level; their next move will be quick, so choose your side. Follow for daily updates. First 100 followers receive free market analysis and signals subscription.
COINBASE:BTCUSD
by EvgenCapital
5
Aug 15Overview: Lord Jerome reported 227,000 jobless claims, slightly below the expected 234,000. Additionally, almost all other macroeconomic data points to a growing and improving economy. July U.S. retail sales were three times higher than anticipated, coming in at 1% versus the expected 0.3%, suggesting strengthening consumer confidence, which has risen above 0.7% for the first time since January 2023. Auto sales are also up. Are these newly unemployed Americans spending their savings? Unemployment has been rising since January 2023 and now sits at 4.3%. The chances of a recession are decreasing, and CRYPTOCAP:BTC is rising. Interest rate cuts are a tool for quantitative easing, typically applied when the economy isn’t growing and needs an injection of liquidity (M2 money supply). But if the economy is healthy, with spending on the rise and government spending contributing to GDP growth, rate cuts might not be the solution. Now, think critically—if everything is relatively good (maybe not great yet), the economy is somewhat healthy, and the S&P 500 has been rallying since October 2023—why would you sharply cut rates? Perhaps two or three cuts by the end of the year, reducing rates by a total of 0.75%, at most. For those expecting such a small rate change (a 13% decrease by the end of the year) to have a significant impact, they might be in for a rude awakening. Alts Relative to BTC: If CRYPTOCAP:BTC dropped by 1.92%, CRYPTOCAP:ETH declined by 3.34%. No significant divergence, except for NYSE:AR , which posted a thin green candle. Bull Case: All bears die. Bear Case: All bears don’t perish but remain very much alive. Fear and Greed Index: Lower, at 40.61%. Dangerously close to Fear territory. W: Forming another lone star/abandoned child-type candle. Where do you want to go next, Mr. Bear Market? D: August 15th ended in red, closing below the daily level of $58.2k. Bearish. On the 14th, we touched the BB MA and are now heading toward $52.2k. 4h: No new divergences—just the old ones still playing out. On both August 14th at 8 a.m. and the 15th at noon, U.S. bears woke up and decided, “Nah, crypto ain’t sh*t.” Red candles followed. The last four green candles showed diminishing volume, not reaching the BB MA. Leave a comment if you know what that means—unless you’re a whale, in which case, just do your thing. 1h: No divergences. The sell-off ended at 4:00 p.m. U.S. time, almost touching the freshly established weekly level of $55.9k set at the beginning of July. Prediction: In the next two weeks, the bottom falls out. When September arrives, big whales will return from vacation and send the market crashing down, with rate cuts providing little relief. Opportunities: CRYPTOCAP:SOL : Still at weekly resistance level. But keep in mind, it approached this level from the top, not the bottom. Although it has garnered a lot of attention this bull market, it doesn’t follow normal technical analysis rules. AMEX:APT : As noted yesterday, starting at midnight, it began its descent, printing a nice -6.24%. Did you catch that? Follow for daily updates. First 100 followers receive free market analysis and signals subscription.
COINBASE:BTCUSD
by EvgenCapital
1
💎ETHUSD: FULL Multitimeframe analysis💎A lot of bullish confluence at the moment for ETH ☝️Do not act based on my analysis, do your own research!! Learn from my experience, with all the mistakes and pain shared on the way to the main goal - consistency. I'm always glad to discuss and answer questions. ⚠️ ALL videos and ideas here are for sharing my experience purposes only, not financial advice, NOT A SIGNAL. YOUR TRADES ARE YOUR COMPLETE RESPONSIBILITY. Everything here should be treated as a simulated, educational environment. DO NOT act based on my analysis, do your own research!!
BITSTAMP:ETHUSDLong
by Yelli_trades
20
ETH - 4H more correctionIn the 4-hour timeframe, Ethereum's recent upward movement was a classic pullback after failing to hold its previous support level. This pullback reached the resistance zone around $3,600, which acted as a significant barrier. Now, ETH is showing signs of weakening and is likely to continue its downward trajectory. Expect Ethereum to target the next support levels around $3,310 and possibly $3,110, as indicated in the chart. These zones are crucial as they represent potential areas where buyers might step in.
Short
by Sober_Trading
2
ETH ShortKRAKEN:ETHUSD ETH is approaching the resistance, which almost exactly coincides with the boundary of a regression channel. Indicators show that a new HIGH is about to form. I am counting on bouncing off the resistance and heading back down to test 2.9K. The risk/reward ratio is not the best, but it is worth giving it a shot. The price could fall lower and test the support of the channel, but I will stay on the conservative side and place a take profit at 2939.
KRAKEN:ETHUSDShort
by FX_CouchPotato