Ethereum: Trade Opportunities at 360.00$
The price bounced from SMA200. The buyers showed one more time that they are not ready to push the price upward. What's next?
The price reached the support zone formed by SMA50 and 360.00$ support level. If the sellers can break this zone, it will be a solid bearish signal. We should be ready to see a downward movement with the main target at 300.00$ support.
If the sellers can't break the support zone, the price reversal will give a new buying opportunity. Stop orders should be placed below the support zone and the local swing low. The profit target will be at SMA200 and 450.00$ resistance.
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 reached the support zone formed by SMA50 and 360.00$ support level. If the sellers can break this zone, it will be a solid bearish signal. We should be ready to see a downward movement with the main target at 300.00$ support.
If the sellers can't break the support zone, the price reversal will give a new buying opportunity. Stop orders should be placed below the support zone and the local swing low. The profit target will be at SMA200 and 450.00$ resistance.
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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