Ethereum: 360USD and 300USD As Good Targets for Bears
I really don't understand the reasons which can push the price upward. Ethereum looks overbought. RSI confirmed the price reversal in the overbought zone. MACD histogram supports the further downward movement. The price is too far from SMA50, and it is another signal that the market is stretched. From TA point of view, it should correct the previous upward movement.
The 1st target for a possible downward movement should be 360USD support. If sellers can push the price below this zone, the 2nd profit target should be at 300USD. I think this zone will be amazing for buying as the market will keep the bullish structure, and we will open long positions after the correction movement in the direction of the main trend.
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.
The 1st target for a possible downward movement should be 360USD support. If sellers can push the price below this zone, the 2nd profit target should be at 300USD. I think this zone will be amazing for buying as the market will keep the bullish structure, and we will open long positions after the correction movement in the direction of the main trend.
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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