As can be seen from the chart and more specifically the ADX and DI indicator ETH/USD is currently ranging.
This is not an easy trading environment, but positions can be taken long at the bottom of the range between $165 and $167.
At the top of the range shorts shall obviously be taken, between $186.50 and $183.
Be aware that there are some intermediate S/R levels at $169 and $177.50.
You can make your long/short decisions based of the ADX/DI indicator. If the DI+ is above the DI- (green above red) prices might go up and if DI- is above DI+ (red above green), prices might go down.
If the ADX (colour changing line) is below 20 ETH/USD will most probably keep ranging and above 20 a trend might be developing.
Disclaimer:
This is just my opinion and never trade just based on this one opinion and do your own research before taking on a trade.
Keep in mind that the markets have a mind of their own, and that you will lose money if you don't do your own market analysis.
This is not an easy trading environment, but positions can be taken long at the bottom of the range between $165 and $167.
At the top of the range shorts shall obviously be taken, between $186.50 and $183.
Be aware that there are some intermediate S/R levels at $169 and $177.50.
You can make your long/short decisions based of the ADX/DI indicator. If the DI+ is above the DI- (green above red) prices might go up and if DI- is above DI+ (red above green), prices might go down.
If the ADX (colour changing line) is below 20 ETH/USD will most probably keep ranging and above 20 a trend might be developing.
Disclaimer:
This is just my opinion and never trade just based on this one opinion and do your own research before taking on a trade.
Keep in mind that the markets have a mind of their own, and that you will lose money if you don't do your own market analysis.