ETHEREUM
ETHUSD
On month starting this cryptocurrency has briefly reached the 490$ per one ETH.
As the bitcoin tumbles ethereum has also giving back some of this yearly gain. And the price is currently trading below the July-2019 high which is previously acted as support for the bullish run.
In daily chart strong bearish engulfing pattern is underway. If the price close below the 364$ mark in daily timeframe. More sellers will get in to the action.
The next target will be around 300$ level which is the next major resistance zone. Stop lose may place above 400$ level. In Elliott wave analysis the 5th major wave is completed and the minor correction waves are forming and will update about the wave formation in coming days
Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas
Disclaimer
It’s not a financial advice. Do the analyze and take a decision.
ETHUSD
On month starting this cryptocurrency has briefly reached the 490$ per one ETH.
As the bitcoin tumbles ethereum has also giving back some of this yearly gain. And the price is currently trading below the July-2019 high which is previously acted as support for the bullish run.
In daily chart strong bearish engulfing pattern is underway. If the price close below the 364$ mark in daily timeframe. More sellers will get in to the action.
The next target will be around 300$ level which is the next major resistance zone. Stop lose may place above 400$ level. In Elliott wave analysis the 5th major wave is completed and the minor correction waves are forming and will update about the wave formation in coming days
Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas
Disclaimer
It’s not a financial advice. Do the analyze and take a decision.
