Ethereum Important Zone

The daily chart of Ethereum shows us that the market falls to the important zone. This zone is formed by MA100 and 200.00 strong support level. We must closely watch for price action in this zone. If price can break it, we'll see downward movement to the previous low. If price can bounce from this zone, we'll get a confirmation for new upward movement and a good entry level for buying. We'll have to wait for confirmed reversal signals. If the market start reversing from MA100 and 200.00 level, we'll have buy opportunity. Don't forget about signals from indicators. RSI will have to confirm price reversal. MACD histogram will have to confirm upward movement. DMI indicator will have to allow open long trades. Only after that we'll be able to open long trades with stop orders below the local swing low and profit targets at whole numbers or resistance levels.

코멘트:

Price could not break MA100. It can be a signal that the market will bounce from MA100 and 200.00 support level.