24th Crypto Technical & Market Watch
It shows that bulls are not waiting for the price to fall to strong supports to buy, but are buying a little higher each time. traders can buy on a breakout and above $10,419 with a stop loss of $9,000. The pattern target is $17,233.92, The rally might face resistance at $13,973.50, but we expect it to be crossed.Our bullish view will be invalidated plunges below $9,080.The next level to watch on the downside is $7,451.63.Hence, we are not proposing a buy at current levels.
Ether (ETH) has broken out $192.Aggressive traders can buy after breakout of $192 with a stop loss of $174.The target to watch on the upside is $235.70.If the ETH/USD pair fails a breakdown of $174.461 will resume the downtrend and a fall to $150 will be in the cards.we suggest traders keep the position size at about 50% of usual.
The failure of bears to capitalize on the breakdown of the $0.27795–$0.24508 support zone is a bullish sign. Aggressive traders can buy $ 0.31.keep a stop loss of $0.24. If the price sustains above $0.27795, it will re-enter the range. We then expect it to gradually move up to $0.45 in the medium term. we suggest traders keep the position size at about 50% of usual.
A breakout of the moving averages can carry the price to $360, above which we expect to pick up momentum. On the downside, if bears break $ 312 the trend will turn negative.The next support on the downside is at $166.98 and below it, a fall to $105 is possible. We suggest traders wait for the price to break out of $360 before attempting long positions.
Disclosure: The author holds no cryptocurrency at the time of writing.
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