Ethereum went back down after touching its major dynamic resistance. Nevertheless, the trend remains bullish, we are still evolving in our range.
- Volume down
- Bearish Signals
- ETF bitcoin
The SEC’s vote on ETFs could drain capital on Bitcoin and slow down altcoins, including Ethereum.
Our analysis are entirely done on Binance charts
The trend is slowly picking up on Ethereum, and more generally on the entire market of altcoins. We are evolving in a bullish channel within our compression pattern. A rebound in support at USD 460 seems probable. Signals are rising again in the short term. Nevertheless, on the daily, the signals remain uncertain. Taking a stand now is therefore risky. To reduce this risk, it is possible to wait for a move to 440 USD to buy. At the moment we are moving in a range between 440 and 540 USD. Leaving it up or down will certainly cause a strong price movement, so it will be necessary to remain attentive this weekend to be able to position itself at best.
How to take position?
We will take a position at the support level at 460 USD and if possible the support at 440 USD to try to sell around 530 USD.
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Should we expect a new correction?
It doesn’t seem so. Nevertheless, we will have to remain attentive to our bullish channel. If we leave it down, the correction could resume.
Key Levels :
- Essentials resistances : 465 – 490
- Essentials supports : 460 – 446
Disclaimer: This blog is only the showcase of my work. I expose to you all my personal analyzes, my personal trades, my personal investment decisions, or the positions that I judge good without taking them myself. We do not offer any investment advice and they are not trading instructions. Nevertheless, you are free to copy my judgments if you judge my work satisfactory
It is important to note and understand that cryptocurrency trading carries serious risks. You can lose capital, see more on some platforms. Take this into account and moderate your investment decisions. Never invest money that you can not afford to lose!
Reminder: The analyzes on the page cover a period of 12 to 48 hours and are optimized for Day Trading and not the long position. We give our long positions on our youtube channel.