Ethereum is at the support level priced at 1885. This level is forming the candles with bullish pressure and may seem to go in a ballistic upside move towards the previous high. The resistance is priced at 2090. This would be our profit target. On higher time frames and H4 as well, the trend seems to be bullish and is in continuation towards the upside.

The descending trendline is on the verge of breaking out and continue moving up. We need to wait for the validation of the breakout of the trendline.

The retracement level is in confluence with the support level as the retracement level is 61.8%. 

The EMA 50 is bearish right now. We may retest it and can take off our profits at the retest.

RSI is at 49. It needs to go into the over sold region in order to form a bullish divergence and then continue moving up. The divergence may not be formed on the charts. It would only be formed on the oscillator.

Lets buy ETHEREUM at 61.8%

Apr 30 2023