اثيريومشراء
$ETH/USD bullish after breaking above the $407 line?
ETH is approaching an important stage.
It has held a breakout challenge of the $407 horizon that has been strongly conscious since the first half of August. The breakout challenge on the same line was held on August 25, when it failed and plunged to $370. This time, the situation is different from the previous one in the following points.
1)Rising prices are gradually increasing
2)Short-term and medium-term moving averages (20MA, 50MA) are upward
In the market where the highs are updated little by little, it is difficult for shorts to enter the market, and there is a tendency to push up the market. In addition, various moving averages are pointing upwards, which is also a sign that the Golden Cross will be completed.
In addition to that, the upward trend line is also being considered as a support line.
Due to these factors, it seems that the $407 horizon has broken out and that the latest high near $440 is likely to be tested.
As a strategy, after confirming a break above the $407 line, it is ideal to set that line as a loss cut line and aim for up to $440.
It should be noted that $440 is a point that attracts the attention of traders, and it is also a point that shorts are likely to start selling, so I will not be greedy and I would like to aim steadily while watching for a sharp drop.
It has held a breakout challenge of the $407 horizon that has been strongly conscious since the first half of August. The breakout challenge on the same line was held on August 25, when it failed and plunged to $370. This time, the situation is different from the previous one in the following points.
1)Rising prices are gradually increasing
2)Short-term and medium-term moving averages (20MA, 50MA) are upward
In the market where the highs are updated little by little, it is difficult for shorts to enter the market, and there is a tendency to push up the market. In addition, various moving averages are pointing upwards, which is also a sign that the Golden Cross will be completed.
In addition to that, the upward trend line is also being considered as a support line.
Due to these factors, it seems that the $407 horizon has broken out and that the latest high near $440 is likely to be tested.
As a strategy, after confirming a break above the $407 line, it is ideal to set that line as a loss cut line and aim for up to $440.
It should be noted that $440 is a point that attracts the attention of traders, and it is also a point that shorts are likely to start selling, so I will not be greedy and I would like to aim steadily while watching for a sharp drop.
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