ETH/USD 1D - Which way it will go?
ETH/USD is trading around $200 since the last few days. We've seen the price attempted to make a bull run but it was stopped by EMA50 few days ago and it's going sideway now. I think I will prepare for 2 scenarios:
- Scenario 1: If the price go up and close above $240, which means it has a successful break-out to EMA50, then ETH can go to resistance zone ($380 - $400). We have the resistance of EMA200 and the round number ($400) in this zone. Moreover, the downtrend line also goes through there. This zone seems like a strong resistance zone and it may make the price go down again.
- Scenario 2: If the price closed below $190, I expect that the price will drop to $130 - $150 before we have a recovery wave.
I will keep my eyes open to take the chances.
Let me know your thought by commenting below, it would help us better.
P/S: This is my personal idea. Just look at it as a reference. Always remember to set your Stop-Loss in each trade to protect your funds.
- Scenario 1: If the price go up and close above $240, which means it has a successful break-out to EMA50, then ETH can go to resistance zone ($380 - $400). We have the resistance of EMA200 and the round number ($400) in this zone. Moreover, the downtrend line also goes through there. This zone seems like a strong resistance zone and it may make the price go down again.
- Scenario 2: If the price closed below $190, I expect that the price will drop to $130 - $150 before we have a recovery wave.
I will keep my eyes open to take the chances.
Let me know your thought by commenting below, it would help us better.
P/S: This is my personal idea. Just look at it as a reference. Always remember to set your Stop-Loss in each trade to protect your funds.
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