ETH is facing a very strong resistance (UPDATE)
In this article i will update the ETH movement in near future.
As the previous analysis, I saw that ETH is facing a very strong resistance @ 182$. This pair is still trading below the MA100. But for now, for the short term, about 30%, ETH can break the resistance @ 182 and may test its next resistance @200$. 70% will retest its support @ 165$.
Please take precautions before trading this pair.
https://www.publish0x.com/altcoins-to-watch-out/eth-facing-very-strong-resistant-xgjnoe
As my previous T.A on ETH/USDT, it is not easy for this pair to break the downtrend line at 181.22$, now it is going to test it's main support at 165$.
Trend: Downtrend.
Case 1: if this pair break the downtrend line and the MA100 (181.22$) and close above this resistant 1 then we can consider it is in an uptrend.
- Place a Long position at [email protected] for the Target 1 at 201$, Target 2 at 217&, Target 3 at 233$
- Stoploss at 177$. It is very good R:R
Case 2: Wait until it tests Support 1 @ 165$. Place a Long order at this point for the Big move later.
- Remember to Stoploss 100% at 160$
