Ethereum: Breakout and 300$ Target
Actualizado
If we look at the 1H chart, we will see a clear downtrend with a correction movement toward the nearest resistance zone. The price could not move above 360-370$ resistance and we can expect the continuation of the downtrend. Of course, if Bitcoin moves up, Ethereum will be able to follow the main coin.
But what if Bitcoin continues the sideways movement at 10 000$ support? What if Bitcoin breaks the support moves down?
If so be ready that Ethereum will break the local uptrend line and move down. It will be a solid bearish signal. The price will be able to reach 300$ support zone where new buyers probably will step in the game and we will see the trend reversal.
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.
But what if Bitcoin continues the sideways movement at 10 000$ support? What if Bitcoin breaks the support moves down?
If so be ready that Ethereum will break the local uptrend line and move down. It will be a solid bearish signal. The price will be able to reach 300$ support zone where new buyers probably will step in the game and we will see the trend reversal.
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.
Nota
The price didn't break the uptrend line. It means we don't have a bearish signal.
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