We booked profits on ethereum earlier. Now, we are going to take another long position on it.

Ethereum just broke out of a resistance level on h4, which is now going to act as a support level. Once a strong price action is formed on this support, we will have a lining effect on the pair to continue its course for a further bullish impulse. The trend has now formed as bullish as the formation of higher highs and higher lows is in place.

The descending trendline has broken out for buys, giving us an additional confluence for the bullish confirmations.

There is no retracement level on the pair.

EMA 50 is bullish and has the upward curve momentum for continuation.

RSI is at 63. It needs neutralization towards the 50 level in order to align with the price action of the charts and then, boom we go!

Ethereum to the exact point!

Oct 21 2023