ETHUSD Breaks Resistance

ETHEREUM CHART PRICE – ETHUSD DAILY

Ethereum broke the resistance level at 242.85, the price is currently just above this resistance level, we haven’t had a breakout confirmation just yet, the next logic thing to do would be for the price to start dropping, but the Relative Strength Index is at 60% which means that traders do not consider this pair over bought yet, and they could continue to go long in the short term, if I see that the RSI level starts to drop then I could go short because at that point a lot of traders will be selling and the price will come down. Even if the price goes down it will still be over the Ichimoku Cloud, as it is getting smaller, Bollinger bands are slightly opening up so we can expect some volatility in the next few days.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.