Ethereum: Watch for Price Action at Uptrend Line!
The price bounced from the local uptrend line but the bulls couldn't develop a new upward movement. We got a new attempt to break the trend line and move below it.
The price action in this zone is very important for further market movement. Watch for it!
We will be able to get new trade opportunities. For example, we have a bullish signal based on divergence. If the price stays above the previous swing low and moves above the local swing high, it will be a bullish signal. We will be able to open long positions.
If the price breaks the trend line and moves below the local swing low, it will be a bearish signal with targets at SMA200 and the daily uptrend line. The price reversal from this zone will be able to give another buying opportunity.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The price action in this zone is very important for further market movement. Watch for it!
We will be able to get new trade opportunities. For example, we have a bullish signal based on divergence. If the price stays above the previous swing low and moves above the local swing high, it will be a bullish signal. We will be able to open long positions.
If the price breaks the trend line and moves below the local swing low, it will be a bearish signal with targets at SMA200 and the daily uptrend line. The price reversal from this zone will be able to give another buying opportunity.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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