Ethereum: Pullback to 500$ and New Trade Opportunities
I don't think that the price will break the resistance and moves upward right now.
The price bounced from 620$ resistance in the 3rd time, and we should be ready to get a double top. It is a reversal chart pattern. RSI gives a bearish signal. The same goes for MACD histogram.
I think the next market movement will be downward toward 500$ support. If the price can stay above this support, we will get a sideways movement between 500$ and 620$ or a new upward movement with the breakout above 620$ resistance. If so, we will have good buying opportunities at 500$ support.
And what do you think about the further market movement?
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 bounced from 620$ resistance in the 3rd time, and we should be ready to get a double top. It is a reversal chart pattern. RSI gives a bearish signal. The same goes for MACD histogram.
I think the next market movement will be downward toward 500$ support. If the price can stay above this support, we will get a sideways movement between 500$ and 620$ or a new upward movement with the breakout above 620$ resistance. If so, we will have good buying opportunities at 500$ support.
And what do you think about the further market movement?
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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