Ethereum: Possible Buying Opportunity at Support
The daily chart of Ethereum offers the same structure as Bitcoin and the same setup for buying. The price bounced from SMA20 and moved downward. There is a support zone where we can expect the price reversal. It will allow us to open long trades. I show you an example of a possible long trade. It will be workable only if the price bounces from the support zone between 300-320$ levels.
If you want to get additional bullish signals supporting long trades, wait for the breakout above the local downtrend line and SMAs.
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 you want to get additional bullish signals supporting long trades, wait for the breakout above the local downtrend line and SMAs.
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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