Let's look at the 4H chart of Ethereum using indicators for better understanding of possible price movements. Moving Averages show down trend. MACD histogram and lines move in different direction. We have to wait for clear signal from this indicator. ADX line of DMI indicator is below 20 and we should not expact for strong price movements. In order to get a trend reversal signal and as a result buy opportunity, we have to wait for a moment when price breaks MA100 and ADX line starts moving to 20 level. MACD also has to confirm up movement. Only after getting such signals from indicators, we'll be able to expect an up movement to the previous highs. We should place buy-stop orders higher than MA100 with stop below the uptrend line. Profit target for long trades will be at 360.00 and 400.00 levels. The uptrend line plays as the support line. If price can't break it, we'll get an additional confirmation for possible up movement. But if price passes through this line, the market will be able to drop to 220.00 and 200.00 levels.
Kommentar
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Watch for price action near 240.00 level. It's possible reversal level.
Don't you think 360-400 is too high? How did you come up with that?
DLavrov
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@habibihamoodi, I think 360-400 level can be reached. We have the up trend.
habibihamoodi
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@DLavrov, Great thanks! How did you study all this?
shebotnov
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@habibihamoodi, what do you mean how? Google "technical analysis"
kash27
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@DLavrov, Roughly when would we reach that in your opinion? And what will happen over a longer term, do you expect a boom-bust action similar to last month or would it perhaps continue with the uptrend? Thank you
DLavrov
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@kash27, I don't know and I don't like guessing. If use trade with proper money management you will be able to wait for long time.
habibihamoodi
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@DLavrov, doesn't look like a downward trend pattern or upward trend either now, do u think it a new less step upward trend now or u still think its gonna fall to 240?
ShaunHiromiIkeda
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look at ETHUSD on a 1 day linear chart its still in a upward trend but seems to be consolidating at the moment. just wait for LTC dump then we will probably see some movement