Ethereum - Support Zones for Buying

Let's talk about Ethereum. The support zone at 160.00 level holds the market. We have the local uptrend line and Moving Averages with 200 and 50 periods which make this zone stronger.
In spite of bearish signals from MACD lines and histogram, DMI is bullish and confirms trend market conditions. ADX line falls and it tells us about the correction period.

If the price can't break the support zone, it can become a starting point for a new upward movement in the uptrend structure. Price reversals from this support and breakouts above the important swing highs will give buy opportunities.

If the price breaks the support zone, the next one will be at SMA100 and the main uptrend line. The price reversal from this zone also will give a good buy opportunity.

All buy trades must be used with stop orders for a case if the price moves against long positions. It will protect your capital! Proper money management and the detailed trading plan will allow making a good profit from this market.

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