ETH/USD Completes 161.8% Extension – Here’s Short Opportunity
Despite the bearish pressure on the Bitcoin, the Ethereum is skyrocketing. Earlier today the Crypto has....
Despite the bearish pressure on the Bitcoin, the Ethereum is skyrocketing. Earlier today the Crypto has placed its all-time at $1,384. The herding behavior is boosting the demand for ETH and if you are also the one looking for a buy level, this update is for you…
ETH/USD – 161.8% Fibonacci Extension
Firstly, let me draw your attention towards the 4- hour chart of ETH/USD. The crypto just completed the 161.8% extension at $1,384 and managed to close below the same level.
ETH/USD – 240 – Min Chart
Did you notice the candlestick pattern “hanging man” followed by a solid bullish rally? It’s signifying the buyers are looking to take profit and sellers are ready to benefit the short selling.
Key Technical Levels – ETH/USD
Support Resistance
1,260 1,356
1,230 1,386
1,182 1,435
Key Trading Level: $1,308
ETH/USD – Trade Idea
So, the idea is to stay bearish below $1,350 with a stop above $1,385 and take profit at $1,245. Good luck.
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