Ethereum Trading Idea

Let's look at the 4H chart of Ethereum using indicators for better understanding of possible price movements. Moving Averages show down trend. MACD histogram and lines move in different direction. We have to wait for clear signal from this indicator. ADX line of DMI indicator is below 20 and we should not expact for strong price movements. In order to get a trend reversal signal and as a result buy opportunity, we have to wait for a moment when price breaks MA100 and ADX line starts moving to 20 level. MACD also has to confirm up movement. Only after getting such signals from indicators, we'll be able to expect an up movement to the previous highs. We should place buy-stop orders higher than MA100 with stop below the uptrend line. Profit target for long trades will be at 360.00 and 400.00 levels. The uptrend line plays as the support line. If price can't break it, we'll get an additional confirmation for possible up movement. But if price passes through this line, the market will be able to drop to 220.00 and 200.00 levels.

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Watch for price action near 240.00 level. It's possible reversal level.