empty
 
 
01.03.2021 01:44 PM
Ethereum Further Decline Invalidated By Bullish Engulfing!

Ethereum edges higher after registering only a false breakdown through the 1,300 psychological level. The price was traded around a strong support area, so a bounce-back was in cards again.

I've told you my previous analysis Ethereum Near Critical Support! on Friday that ETH/USD could turn to the upside if it registers only a false breakdown or if the rate prints a major bullish engulfing.

ETH/USD Upside Momentum!

This image is no longer relevant

ETH/USD registered only a false breakdown through 1,352 former low, failing to reach the third warning line (WL3). The bullish engulfing printed yesterday signals that the retreat is over and that the bulls will lead the rate higher again.

Now is almost to reach the Pivot Point (1,550) which represents an immediate upside target. Breaking above the Pivot Point and through the fourth warning line (WL4) signals that the price will continue to increase in the upcoming period.

Escaping from the down channel between WL3 and WL4 could bring a long opportunity as well. I believe that the upside scenario will be safe as long as ETH/USD stands above 1,400 - 1,352 area.

Ethereum Tips & Forecast!

Buying could be signaled by a breakout and stabilization above 1,600 level. So, you could go long from above 1,600 using 2,040 all-time high as a target, while the Stop Loss could be hidden below 1,293 former low.

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $1000 lebih banyak!
    Pada April kami mengundi $1000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback