Trade Recommendation: Ethereum

Ethereum is going to bounce from a support zone formed by the uptrend line, 300.00 and 280.00 levels. MACD histogram and RSI confirms price reversal. It’s buy opportunity. Pending orders should be placed at 312.00 level. Stop orders must be below the local swing low at 275.00 level. Profit target is near the resistance level. If the market drops below the support zone, buy orders should be deleted. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

Market: ETHUSD
Buy: 312.00
Stop: 275.00
Profit Targets: 390.00

The trading signal is based on Poloniex chart.

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.