What to expect from Ethereum in Next few days:
Ethereum is an important crypto with number of applications as we already know. However, the prices of Ethereum were rising even in a blood bath of crypto currencies. The major reason behind the rising prices was, people was purchasing Ethereum instead of Bitcoin from Coinbase for faster transactions and lower fees. However, from technical point of view we are now expecting down move in Ethereum to an area of 850$.
Important Support levels for Long term buy trade:
810-850 is an important support area for Ethereum. There are very less chances for ethereum to break lower this area.
Stoploss and Profit Targets:
The good buy of ethereum will be from 830-920 area. The stoploss will go below 770 to be totally safe. The targets on the longer term will be the area of 1700$.
Conclusion:
Here is the expected move of Ethereum from my point of view. Down move and exact location is indicated in charts. Please take a closer look and follow the green line. Market is likely to make this pattern in a down move.
Note:
The chart indicates the downward move of Ethereum. However, I will not short Ethereum, because of relatively higher risk involved. So, I will only trade long. This chart and technical analysis indicates to stop buying Ethereum above an area of 1100-1250. We will see lower prices and you can enter long from indicated positions.
Disclaimer:
I am giving you a method to trade Ethereum. It is investing advice for experienced trader. I hope you understand there is a risk to your capital in Forex, CFD and Crypto trading. Only you will be the sole responsible of your losses and profits.
About me:
I am a forex and crypto trader. I am into trading because of my passion and I love making money. I have been into this business for 2 years. I spent a hard time learning technical analysis. However, the reward is so huge that it compensates all the hardships of past.