Ethereum pair follows the bitcoin suit and surged in price recently.
Lets look at the 4Hour-Time Frame for the significant price levels.
Bullish Case:
As we can see on the chart, pair(ETH/USD) has broken one month long downtrend-line(red line) on 7th February'19 and surged 40+% in price since then.
It is testing a preliminary resistance level around $150+ and might have a healthy pull back to 1st line of support(Green bar) around $139.If the price level doesn't hold then second line of defence for bulls will be around $127-$129.Also, the pair has surpassed 200H-SMA(Simple Moving Average) and penetrated through ichimoku cloud which might act as preliminary support if any pullbacks occur.Breaking major resistance around $173+ price level will be strongly bullish for the pair and will test $200+ level.
Simply put, laddering buy orders around $139-$126 price level with tight stop-loss, can be profitable for traders as well as investors for coming weeks.
Bearish Case:
If the last line of support around $120+ doesn't hold then it would be strongly bearish for the pair.
Also, STOCH-RSI and MACD is moving into the bearish zone which signifies a coming small drop.
Simply put, if someone bought at around $139-$126 price level then it should sell asap if the $120 price level breaks down.
Lets look at the 4Hour-Time Frame for the significant price levels.
Bullish Case:
As we can see on the chart, pair(ETH/USD) has broken one month long downtrend-line(red line) on 7th February'19 and surged 40+% in price since then.
It is testing a preliminary resistance level around $150+ and might have a healthy pull back to 1st line of support(Green bar) around $139.If the price level doesn't hold then second line of defence for bulls will be around $127-$129.Also, the pair has surpassed 200H-SMA(Simple Moving Average) and penetrated through ichimoku cloud which might act as preliminary support if any pullbacks occur.Breaking major resistance around $173+ price level will be strongly bullish for the pair and will test $200+ level.
Simply put, laddering buy orders around $139-$126 price level with tight stop-loss, can be profitable for traders as well as investors for coming weeks.
Bearish Case:
If the last line of support around $120+ doesn't hold then it would be strongly bearish for the pair.
Also, STOCH-RSI and MACD is moving into the bearish zone which signifies a coming small drop.
Simply put, if someone bought at around $139-$126 price level then it should sell asap if the $120 price level breaks down.