cryptocurrency forum

Ethereum(ETHUSD)

Discussion in 'Expert Level' started by Arpit, Jan 27, 2019.

  1. Arpit

    Arpit Moderator Premium Member

    Messages:
    624
    Likes Received:
    51
    Trophy Points:
    43
    Credits
    25%
    We are looking at the 4H chart of ETHUSD.

    Screen Shot 2019-01-27 at 1.58.24 pm.png

    We can see from the chart that the price is moving inside a descending triangle. The price has recently received a reaction from the 100 EMA and the upper trendline. The region around the 110-115 is of great support. Any break of the triangle in the downward direction can lead the support to be broken and bringing the price to around 92-100 range which is also one of the good support.
    Any break above the triangle can bring the prices to around 130-140 zone. We have 2 major resistance at the above levels i.e. the 200 EMA(blue line) and the 100 EMA(Yellow line). A heavy bull volume id required to break the trendily in upward direction and make the prices to sustain above the trendline.

    It would be safe to trade after the breakout.
     
  2. Arpit

    Arpit Moderator Premium Member

    Messages:
    624
    Likes Received:
    51
    Trophy Points:
    43
    Credits
    25%
    As mentioned in the post, we reached 100 after breaking our support of 113.
     

Share This Page