We have previously booked a tremendous bullish trade on ETHEREUM which is already bullish with the formation of higher highs and higher lows. The trend is per the cryptocurrency market is still bullish and is going to continue to be so. We are looking to go long at the support level of 2200. And then, continue the mark up towards the upper side till the resistance.

The ascending trendline needs to retest at the support level. Once the market rejects, it will continue 

EMA 50 has now turned bullish. The market may retact and retrace towards it and then continue moving up.

RSI is at 50. It needs to dwell above the 50 level region and then retest the level for the continuation towards the over bought region.

Ethereum to bounce up from 2200

Jan 08 2024