📍 Hello traders, today we are looking at
ETHUSD
1h chart in order to identify what is happening to
ETH
right now. It seems that
ETH
, after a considerable drop, has entered a strong support level right now. This level is at $1865 as you can see in the chart.
📍 Trading at $1875 is happening right now which is exactly below our support. This means that we are going to see the price moving upwards and check again when it will reach the first resistance of $1906.
✔ Recommended trading strategy: As we have entered the support level of $1865, which was a solid support level in previous periods as well, I assume that the price is going to grow more, moving inside the regression channel till it reaches resistance level 1. If this happens fast we have a potential to reach the 2nd resistance level which is at 1936.
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⚡Leave a comment to support our team!
RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
ETHUSD
1h chart in order to identify what is happening to
ETH
right now. It seems that
ETH
, after a considerable drop, has entered a strong support level right now. This level is at $1865 as you can see in the chart. 📍 Trading at $1875 is happening right now which is exactly below our support. This means that we are going to see the price moving upwards and check again when it will reach the first resistance of $1906.
✔ Recommended trading strategy: As we have entered the support level of $1865, which was a solid support level in previous periods as well, I assume that the price is going to grow more, moving inside the regression channel till it reaches resistance level 1. If this happens fast we have a potential to reach the 2nd resistance level which is at 1936.
⚡Please hit the like button and
⚡Leave a comment to support our team!
RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
Trade closed: target reached
Trade active
