Ethereum Entry Level

The price bounced from 400.00 support level and moved upward. It broke the downtrend line and passed through the cloud. Such price movement gives us a buy signal and confirmation that the market is going to move upward. We have a strong resistance zone near 480.00 level, and if the market breaks it too, we should expect for reaching new highs. Pending orders for buy can be placed above 480.00 level with stop orders below the local swing low at 386.50 level. Profit targets can be at round numbers like 550.00, 600.00 and 650.00 levels. Trade volume for this trade should be up to 10% from the capital. If you don't like risk/reward ratio, it's better to skip this trade. The same goes about the case if you are not sure in this market.