Trade Recommendation: Ethereum

The price is near the possible reversal zone formed by SMA50, SMA100 and 0.046500 support level. RSI confirms price reversal. MACD histogram supports upward movement. DMI allows opening long trade. It’s a new trading opportunity. Pending orders for buy can be placed at 0.051000 level with stop orders at 0.047200 level. Profit targets are 0.055000 and 0.068000 resistance levels. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: ETHBTC
Buy: 0.051000
Stop: 0.047200
Profit Targets: 0.055000 and 0.068000

The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments in Ethereum.

Author:
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.