Hello, Traders! Monfex is at your service and today we overview ETH/USD.
What do you expect from Ethereum ?
For now ETH locate near the support line of an ascending channel or bearish flag. Maybe here we see a small Head&Shoulders pattern, it looks strong near the support line. But if the blue line of support will be broken, then the bears will probably push the price even further down. 2 scenarious below.
We can assume a long possition by breakout the level of ~ $185 Supposed Trade Signal by ETH/USD - long
Buy near $185
Take profit ~ $196, $202, $206
Stop at $179
And we can assume a short possition by breakout the level of ~ $177,5 Supposed Trade Signal by ETH/USD - short
Sell near $177,5
Take profit ~ $169, $161, $154
Stop at $184
Share your thoughts, ideas about the market under the chart.
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Disclaimer This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.