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ETHERUM ANALYSIS TWO POSSIBLE SCENARIOS
We can see that Etherum broke out of the range in point 7(didnt't followed the trend line) and it's currently on a previous support tested before which we can see in point 1 to 6.
Scenario 1 - Etherum tests the current support and bounces off . Price around 2050 $ (point 9)
In point 8, it tested the support and then bounced off of it, which gives us a strong buy signal. Though, the RSI is still low so I would wait,before making another buy, for the price to test the support again so that would mean you should buy around the 1700 $ value if the Etherum succeeds to test the support. If ETH does that, it will get back again in the trend triangle and follow it which means a pump to 2050
Scenario 2 - Etherum fails to test the current support. Price around 1500 $ (Unlikely scenario considering that we are currently in a bull market and there is a big demand)
If Etherum fails to test the current support it will bounce off to the next support which means the price will go back to 1500 $, a good level to buy the dip if this happens.
Recommendation: If you want to open a position I would recommend investing half of the sum now (point 8, after the price tested the support and bounced off of it,but that doesn't mean it couldn't fall again to 1700$, but it could mean Etherum would get back to the trend line ) and half of the sum around 1700 $ (when it would hypothetically fall again to the support and succeeds to test it)EN:ETHUSDETHUSD
Scenario 1 - Etherum tests the current support and bounces off . Price around 2050 $ (point 9)
In point 8, it tested the support and then bounced off of it, which gives us a strong buy signal. Though, the RSI is still low so I would wait,before making another buy, for the price to test the support again so that would mean you should buy around the 1700 $ value if the Etherum succeeds to test the support. If ETH does that, it will get back again in the trend triangle and follow it which means a pump to 2050
Scenario 2 - Etherum fails to test the current support. Price around 1500 $ (Unlikely scenario considering that we are currently in a bull market and there is a big demand)
If Etherum fails to test the current support it will bounce off to the next support which means the price will go back to 1500 $, a good level to buy the dip if this happens.
Recommendation: If you want to open a position I would recommend investing half of the sum now (point 8, after the price tested the support and bounced off of it,but that doesn't mean it couldn't fall again to 1700$, but it could mean Etherum would get back to the trend line ) and half of the sum around 1700 $ (when it would hypothetically fall again to the support and succeeds to test it)EN:ETHUSD
ETHUSD
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