We are still bullish on ethereum and with the bullish trend sustaining and forming higher highs and higher lows, we will continue to buy. 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 2450. And then, continue the mark up towards the upper side till the resistance.

The descending trendline is about to breakout buy and after the validation, it will continue to ramp up.

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

EMA 50 has just turned bearish and the market may breakout buy after the retest at the support level. Another impulse could breach the EMA 50.

RSI is at 46. It needs to dwell above the 50 level region and then retest the level for the continuation towards the over bought region.

Ethereum buys from 2450

Jan 20 2024

Stop Loss -3.60%

Holding time 9hr

2448.05

Entry price

2359.95

Stop loss price