Ethereum yesterday closed slightly negative with a doji candle on the trend line, which shows the strong bid between bulls and bears to maintain supremacy. The price continues to rise, having rebounded above the short-term moving average, and reaches $ 730 thanks to an appreciation of 0.62%.
The resistance is located around $ 838. The 50-day moving average begins to converge with the 100-day moving average over the $ 650. The price remains operating on the three moving averages.
Currently, the ETH / USD pair seems strong, as it remains above $ 700. This increases the possibility of a break of the $ 745 once again. If the bulls manage to push the price above $ 745 once again, it is likely that the pair will visit the $ 838. And, if the bulls manage to surpass that level, the following levels of resistance will get them around the $ 900 and the $ 1,000 before reaching their historical maximum again.
Aggressive traders can take a very short term long term position above $ 742 with a close stop loss. The goal is $ 838 dollars, but it is an aggressive operation, with a risk-benefit ratio of 1.73. You can take position with a smaller position size than usual.
Purchase operation, short term, after exceeding $ 742. Entry at $ 742.66 and exit target at $ 832.22, slightly below the resistance. The stop loss adjusts to a distance of 2 times the ATR of the 4 hour chart. Risk-benefit ratio of the operation of 1.73.
The resistance is located around $ 838. The 50-day moving average begins to converge with the 100-day moving average over the $ 650. The price remains operating on the three moving averages.
Currently, the ETH / USD pair seems strong, as it remains above $ 700. This increases the possibility of a break of the $ 745 once again. If the bulls manage to push the price above $ 745 once again, it is likely that the pair will visit the $ 838. And, if the bulls manage to surpass that level, the following levels of resistance will get them around the $ 900 and the $ 1,000 before reaching their historical maximum again.
Aggressive traders can take a very short term long term position above $ 742 with a close stop loss. The goal is $ 838 dollars, but it is an aggressive operation, with a risk-benefit ratio of 1.73. You can take position with a smaller position size than usual.
Purchase operation, short term, after exceeding $ 742. Entry at $ 742.66 and exit target at $ 832.22, slightly below the resistance. The stop loss adjusts to a distance of 2 times the ATR of the 4 hour chart. Risk-benefit ratio of the operation of 1.73.