ETHUSD- Long ( My first analysis) guidance aceptd with opn heart
Hope to have some tips to improve my analysis:
While starting with the past few days, where a tweet created a fud in the market, leading BTC price to fall, resulted in ALT coins decline, further, the same bullish momentum was put on hold due to holidays,,, however, it does not mean that the gas is finished, this is evidenced by the fast recovery of Alt coins, bulls supported the ETH price at 550 support levels.
So what's up next:
Price is travelling around the mid line of bollinger band which is currrently acting as a support, however, MACD histogram does not support the idea for a uptrend but MACD line is improving bit by bit, further RSI line crossing 60 in a vertical gives indication of potentiol bullish moment.
Moreover, K line of stochastic is near to cross the bottom line of 25 giving indication for long position.
So, i suggest: Price to move around 800, if breached the it will stop at 850 level given the last resistance level whereas, 650 will act as a strong support.
Awaiting for recommendations to improve my analysis.
regards
While starting with the past few days, where a tweet created a fud in the market, leading BTC price to fall, resulted in ALT coins decline, further, the same bullish momentum was put on hold due to holidays,,, however, it does not mean that the gas is finished, this is evidenced by the fast recovery of Alt coins, bulls supported the ETH price at 550 support levels.
So what's up next:
Price is travelling around the mid line of bollinger band which is currrently acting as a support, however, MACD histogram does not support the idea for a uptrend but MACD line is improving bit by bit, further RSI line crossing 60 in a vertical gives indication of potentiol bullish moment.
Moreover, K line of stochastic is near to cross the bottom line of 25 giving indication for long position.
So, i suggest: Price to move around 800, if breached the it will stop at 850 level given the last resistance level whereas, 650 will act as a strong support.
Awaiting for recommendations to improve my analysis.
regards