Weekly Chart Prevents me to Buy Ethereum

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By Deya Hroob

Weekly Chart


eth/usd week
Weekly Chart
The trend line is still bearish on weekly chart. The price has been rejected many times from it. However, the positive thing is that ETH/USD is currently trading above the moving averages, which is a positive sign. 

 If the price turns down from the current levels, a fall to the support $216 is possible. On the other hand, if bulls manages to break up the downtrend line, a move to $288 level is likely, thereafter $360. Hence, long positions should be taken only on a breakout of the trend line.


Daily Chart



Daily Chart

On daily chart, the price is trading in range $250 as resistance and $216 as support. This chart goes perfectly in line with weekly chart as $250 level coincides with downtrend line.

 Wait the price to break up $250 level and go long. You can also buy on supports with using proper risk management. 

 Trade Wise and Good Luck,

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