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ETH/USDT Potential Upward Movement

ETH/USDT Long-Term Trend: Bullish

Key Resistance Levels: 2939.00, 3494,00, 4205.00

Key Support Levels: 2295.00, 1933.00, 1727.00

Daily Chart:

The price on the daily time frame is ranging between two key levels which are the daily support (2295 USDT), and the daily resistance (2939 USDT). We expect this to continue in the coming days. The market was rejected by the strong support which could lead to a move upward.

ETH/USDT Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hour time frame, the price managed to violate the bearish channel structure and broke it to the upside.  A double bottom has been left which led to a move upward in the same direction of the main trend. A lower correction could be seen to the highlighted zone before the next impulsive wave.

Signal Idea:

Buy Limit Order @ 2457.00

TP 1 @ 2622.57

TP 2 @ 2939.00

Stop Loss @ 2375.09

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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