ETH has been struggling for such a long time it is one of the few coins that has not completed a higher high on the 4hr and 1D. It does however have the EMA cross on the Daily and 4hr showing its bullish intention and EMAs are the primary signals i use to trade. As part of this pull back I've activated a small long position at 586. I will look to add more as the price goes toward the historic buy channels(green and dark green). Previously(linked below) i mentioned that its under performance was an opportunity for investors, and i opened up a small position with no stop loss. I have unloaded that position for a cool 40% gain. Again this trade has a similar structure, where the stop loss i would have to set would be so far into the buy zone that, at the point it would be better to hold it long term, as i am bullish on the project in general. ETH has bullish EMA crosses against BTC as well on the daily, and will likely offer better performance in the near future.
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Closing this trade in profit to monitor. Lower high might mean low is now it.
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Low is not in ** entry 586 close 670
