Ethereum: 227USD as the Key Support for Buyers
The market has been moving upside for several months. When the price reversed from 86.50, it became a starting point for a new uptrend. The price reached 255USD as the highest point. Now we have a sideways movement between 227USD and 255USD. What's next?
If the buyers want to keep the uptrend, the price has to stay above the main uptrend line and SMA200. Also, this zone is supported by 227USD, which could hold the price in the past. The price reversal from this support zone will give a buying opportunity with stop orders below SMA200 and the main profit target at 255USD.
If the price breaks the support zone, we should be ready to see a downside movement to 190USD support zone. The price reversal from this zone also will be good for buying.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the buyers want to keep the uptrend, the price has to stay above the main uptrend line and SMA200. Also, this zone is supported by 227USD, which could hold the price in the past. The price reversal from this support zone will give a buying opportunity with stop orders below SMA200 and the main profit target at 255USD.
If the price breaks the support zone, we should be ready to see a downside movement to 190USD support zone. The price reversal from this zone also will be good for buying.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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