Aloha, everyone!
I'm watching a trade develop for Ethereum in which I believe it to breakout soon.
My main reasons for this position are that Ethereum has been forming a pennant on the 1H chart, as shown above. We can expect price to rise a little more before possibly enduring a pullback before the big break, which I project to reach around $145 but will be covering capital by selling off at $142 resistance. Additionally, aside from the pennant, we can see Ethereum's MACD chart is on the brink of high bullish action upcoming, the blue line making its way back up to trade in the green.
In the event of any major pullbacks, remain calm, and remember support zones at $134 and $132. If Ethereum closes a candle below $132, a new analysis will be needed.
For the time being, we're going long on Ethereum with 10X leverage on BitMEX.
Thanks for reading. Leave a like if you agree!
I'm watching a trade develop for Ethereum in which I believe it to breakout soon.
My main reasons for this position are that Ethereum has been forming a pennant on the 1H chart, as shown above. We can expect price to rise a little more before possibly enduring a pullback before the big break, which I project to reach around $145 but will be covering capital by selling off at $142 resistance. Additionally, aside from the pennant, we can see Ethereum's MACD chart is on the brink of high bullish action upcoming, the blue line making its way back up to trade in the green.
In the event of any major pullbacks, remain calm, and remember support zones at $134 and $132. If Ethereum closes a candle below $132, a new analysis will be needed.
For the time being, we're going long on Ethereum with 10X leverage on BitMEX.
Thanks for reading. Leave a like if you agree!