ETHUSDT has broken local Support! Short Term Bearish
This is a 4HR analysis for ETHUSDT on Binance exchange.
After making an ATH, Ethereum is experiencing selling pressure. It has already broken the local support at $2100, and the bullish bias looks to be on hold for now. If there are more sellers, with a good amount of volume, it might see a downward momentum and a chance for it till $1800's level. On the other hand, if it flips unexpectedly to the other side, it might accumulate and see an uptrend.
RSI, is hovering around 40, if more sellers start shorting it might reach the oversold territory.
To take a short position, one could look for the next few 4hr candle closes, and if more red candles, one could take a short position with an SL nearly at 5% to 6%. If it sees a downward movement, it might revisit $1700 to $1800 region.
Do let us know what do you think ?
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DYOR & HAPPY TRADING
After making an ATH, Ethereum is experiencing selling pressure. It has already broken the local support at $2100, and the bullish bias looks to be on hold for now. If there are more sellers, with a good amount of volume, it might see a downward momentum and a chance for it till $1800's level. On the other hand, if it flips unexpectedly to the other side, it might accumulate and see an uptrend.
RSI, is hovering around 40, if more sellers start shorting it might reach the oversold territory.
To take a short position, one could look for the next few 4hr candle closes, and if more red candles, one could take a short position with an SL nearly at 5% to 6%. If it sees a downward movement, it might revisit $1700 to $1800 region.
Do let us know what do you think ?
For more trading ideas follow us !!
DYOR & HAPPY TRADING
أغلقت الصفقة: تم الوصول لوقف الخسارة
Stop loss reached. trend reversed
إخلاء المسؤولية
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.