The next target is $190 (or $110?) Watch for these SIGNALS!
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Hi there!
Here is an advanced analysis for ETH/USD based chart patterns, PLUS a ready-to-use trading strategy and a set of trading signals.
Keep reading and you’ll get exact instructions on how to trade ETH/USD and achieve profitability.
The medium-term trend for ETH/USD is still STRONG UPWARD.
Despite a recent strong 20% downward correction, the price is still perfectly confined by the trendlines of an ascending trend channel. So, technically, we didn’t receive a trend reversal signal yet, and a medium-term TREND is UPWARD.
In fact, now is an excellent opportunity to enter LONG, since the price is being traded at the bottom of an ascending trend channel, and the upside potential constitutes up to 37% over the next week.
In particular, the next strong resistance level is set at $170. This resistance level is significant from different perspectives, especially as evidenced by the recent drop from this price downwards by 20%. So, if the price breaks through this resistance, the ensuing price increase is expected to be significant and volatile. Based on this analysis, in case the $170 resistance is broken, the price is likely to surge at least to the next resistance at $190. This represents a 37% upside potential, which you can magnify to 370% by using a moderate (10X) level of leverage. The Stop-Loss should be set beneath the ascending trend channel, which coincides with a strong support level at $130. The risk-reward ratio is 5.0x - an incredibly attractive and rare trade opportunity.
Another scenario, which is not highly probable, but is possible, is a trend reversal. The trend reversal might have been generated by a substantial 20% price drop, which occurred on Feb 19. It’s worth emphasizing that currently, from a technical analysis standpoint, the trend is still UPWARD. A clear trend reversal signal will be generated if the price breaks down through the lower trendline of the ascending trend channel ($135 now) and then drops below the support level at $130. Those two conditions would imply that the trend has reversed, and you should begin watching for SELL opportunities.
Please, pay attention to the trend channels, presented on the chart, and the indications supporting the trade signals. By following these simple yet professionally drawn chart patterns, you’ll be able to make profits by always following the trend, supported by the technical analysis framework.
So, here is a brief summary of what we’ve just discussed:
- The base-case scenario is a continuation of an UPWARD TREND
- Enter LONG now at $140 (do not wait, since no further downward correction is projected)
- Set a Stop-Loss at $130
- Set a Take-Profit at $190
- Forecasted P&L: +$50 or +37% (or +370% per 1 Lot with 10x Leverage)
- Risk/Reward Ratio: 5.0x
The goal: This signal will allow you to profit from the next rally to $190, assuming the current upward trend continues (which is more probable, than not).
Watch for reversal signals very carefully by analyzing the chart, as presented above.
Don’t miss the reversal signal! This is very important from a risk-management standpoint.
I hope this analysis was useful to you.
If you like it and would like to receive future updates - Please, follow me on TradingView!
If you follow me, I guarantee you will receive timely updates in the future, including a trend reversal signal according to this analysis.
This will allow you to stay on top of the current Ethereum trend and hopefully maximize your profits.
If you agree, please, Like this idea - This would be the best feedback and encouragement for me!
To your success,
Monfex
Here is an advanced analysis for ETH/USD based chart patterns, PLUS a ready-to-use trading strategy and a set of trading signals.
Keep reading and you’ll get exact instructions on how to trade ETH/USD and achieve profitability.
The medium-term trend for ETH/USD is still STRONG UPWARD.
Despite a recent strong 20% downward correction, the price is still perfectly confined by the trendlines of an ascending trend channel. So, technically, we didn’t receive a trend reversal signal yet, and a medium-term TREND is UPWARD.
In fact, now is an excellent opportunity to enter LONG, since the price is being traded at the bottom of an ascending trend channel, and the upside potential constitutes up to 37% over the next week.
In particular, the next strong resistance level is set at $170. This resistance level is significant from different perspectives, especially as evidenced by the recent drop from this price downwards by 20%. So, if the price breaks through this resistance, the ensuing price increase is expected to be significant and volatile. Based on this analysis, in case the $170 resistance is broken, the price is likely to surge at least to the next resistance at $190. This represents a 37% upside potential, which you can magnify to 370% by using a moderate (10X) level of leverage. The Stop-Loss should be set beneath the ascending trend channel, which coincides with a strong support level at $130. The risk-reward ratio is 5.0x - an incredibly attractive and rare trade opportunity.
Another scenario, which is not highly probable, but is possible, is a trend reversal. The trend reversal might have been generated by a substantial 20% price drop, which occurred on Feb 19. It’s worth emphasizing that currently, from a technical analysis standpoint, the trend is still UPWARD. A clear trend reversal signal will be generated if the price breaks down through the lower trendline of the ascending trend channel ($135 now) and then drops below the support level at $130. Those two conditions would imply that the trend has reversed, and you should begin watching for SELL opportunities.
Please, pay attention to the trend channels, presented on the chart, and the indications supporting the trade signals. By following these simple yet professionally drawn chart patterns, you’ll be able to make profits by always following the trend, supported by the technical analysis framework.
So, here is a brief summary of what we’ve just discussed:
- The base-case scenario is a continuation of an UPWARD TREND
- Enter LONG now at $140 (do not wait, since no further downward correction is projected)
- Set a Stop-Loss at $130
- Set a Take-Profit at $190
- Forecasted P&L: +$50 or +37% (or +370% per 1 Lot with 10x Leverage)
- Risk/Reward Ratio: 5.0x
The goal: This signal will allow you to profit from the next rally to $190, assuming the current upward trend continues (which is more probable, than not).
Watch for reversal signals very carefully by analyzing the chart, as presented above.
Don’t miss the reversal signal! This is very important from a risk-management standpoint.
I hope this analysis was useful to you.
If you like it and would like to receive future updates - Please, follow me on TradingView!
If you follow me, I guarantee you will receive timely updates in the future, including a trend reversal signal according to this analysis.
This will allow you to stay on top of the current Ethereum trend and hopefully maximize your profits.
If you agree, please, Like this idea - This would be the best feedback and encouragement for me!
To your success,
Monfex
Trade ist aktiv
The reversal signal has been identified accurately, according to this idea!It is still valid and you should trade as indicated on the chart.
To your trading success,
Monfex
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