#Daily: Ethereum is on trend
Ethereum keeps going on a local trend, but stucks in the resistance zone 224. Do not buy, wait. Do not sell, wait.
Closing of the day above 219-227 = partial purchase. Retest of the 224 zone downward and rebounce = purchase. Target = 270+.
Retest of the 188 zone upward and rebounce = short. Targets = 155, 130. Opening short now is against the local trend, but possible within the LTF range (for example, hourly TF with the range of 219-197).
And more details.
Ethereum retraced the 224 zone, which hasn't work as support recently on March 8, 2020 and become resistance for now. Check out the same situation on September 19, 2019. A range was formed with highs of 149 and 227 with a middle at 188. The upper part of the range 227-188 = consolidation zone, trades are possible by LTF (1-3 hours). The numbers was rounded.
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Closing of the day above 219-227 = partial purchase. Retest of the 224 zone downward and rebounce = purchase. Target = 270+.
Retest of the 188 zone upward and rebounce = short. Targets = 155, 130. Opening short now is against the local trend, but possible within the LTF range (for example, hourly TF with the range of 219-197).
And more details.
Ethereum retraced the 224 zone, which hasn't work as support recently on March 8, 2020 and become resistance for now. Check out the same situation on September 19, 2019. A range was formed with highs of 149 and 227 with a middle at 188. The upper part of the range 227-188 = consolidation zone, trades are possible by LTF (1-3 hours). The numbers was rounded.
PM me for requests of TA.
Like if useful.
Subscribe.
Be healthy.
Stay safe.
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