We are not looking at Ethereum towards the bullish side and momentum. Once the market retraces back at the support level priced at 1842, it has the potential to go towards the resistance level at the price of 1960. Market has formed a higher high and higher low and is in the bullish momentum as of now. At the major support level, we will be looking to buy it.

The desencing trendline has broken out for buys and market is testing the resistance level now. Also, the ascending trendline is on the verge of retesting at the support level.

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

EMA 50 is at bullish and might not retest the support level with the EMA 50.

RSI is at 53. We need to see the ETH hop back towards the 50 level, break it and then retest it.

Ethereum stacks for longs

Jul 30 2023