Ethereum is currently moving upside on the 4H chart, however:
-It is making a 3rd touch on its ascending channel as well as it is touching the resistance level of 236-240;
-Price is way above the moving averages on the Daily Chart;
-RSI is overbought on the Daily Chart;
Right now, the smartest option is waiting to see what happens:
-If we see a price rejection of the resistance level, a SHORT position would be the best play.
-If we can break the resistance level with an impulsive candle, we can try to catch a retest of that same level for a LONG position.
Do always use stop-losses and remember this is not financial advice.
-It is making a 3rd touch on its ascending channel as well as it is touching the resistance level of 236-240;
-Price is way above the moving averages on the Daily Chart;
-RSI is overbought on the Daily Chart;
Right now, the smartest option is waiting to see what happens:
-If we see a price rejection of the resistance level, a SHORT position would be the best play.
-If we can break the resistance level with an impulsive candle, we can try to catch a retest of that same level for a LONG position.
Do always use stop-losses and remember this is not financial advice.