The indicators that I used in this chart are EMA 50, EMA 200, and RSI. The price of ETH/USD crosses both 50 and 200 days EMA. The RSI is more than 60, but there is a bear trend channel still. I think if the price breaks out more then 260$ could be a good signal for long positions.
It can be seen that the 50-day EMA is broken, which may mean a return of investor optimism, but all candles are below the 200-day EMA, which cannot yet be said to have a firm bullish trend. However, I remain in a long position.
We have a triangle. If the price fall down under $7200-7000 it possible to continue to fall to $5000 but if the price become $8000 or above $8000 then might be raised to $14000 or more.
The price is on the strong support. I think to come in long position 0.25$ with stop loss order on 0.20$ in case of panick sales. My target is 0.90$ - 1.00$.
