Trade Recommendation: Ethereum

The price diverges with MACD and RSI and it gives us trend reversal signal. The key level is 400.00 and if the market bounces from this level, we should be ready to see further upward movement. Long trades can be opened based on a breakout above the downtrend line. Entry level is 430.00 with stop orders at 386.00 level. Profit targets are 480.00 and 550.00 levels. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: ETHUSDT
Buy: 430.00
Stop: 386.00
Profit Targets: 480.00 and 550.00

The trading signal is based on Poloniex chart.

Disclaimer: The analyst does not have investments in Ethereum.

Featured image courtesy of Shutterstock. 

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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.

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