ETH.USDT (Y20.P4.E4).Looking to go long

Hi All,

ETH looks more bearish than a correction however like many of the ALTs we see it dropping at a quicker rate and also we have the BTC dominance shadow overlooking most of the ALTs.

Looking at this chart, I have the ABC correction with two possible targets, $287 which has confluence with the horizontal prior resistance with the bottom trend line in black.
Note, the fib level (0.618) on this channel as has confluence, so $287 is a strong candidate at this point.
Do note how the 50 MA ($390) is now acting as the downward pressure.
The 2nd target, is the 200 MA on the daily, orange line, which means a deeper correction.

I will be using the Stoch RSI and Phoeix to also give agreement if and when these levels are hit.

But for now, I will be looking at $311 September support.


Please give me a like or tick for this post.


Regards,
S.SAri

DAILY chart:

3 DAY chart: Downward pressure still there with 1 and 1/2 days for that candle to close

تعليق:

16 hrly chart, keeping an eye on this level

تعليق:

تم فتح الصفقة:

Post updates will be on this followup post.