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 2710. And then, continue the mark up towards the upper side till the resistance.

The ascending trendline is retesting the support level at the given price. Now, the ascending trendline needs to be tested in order to form a confluence for the impulse up.

The retracement level of 50% is in confluence with the support level to continue up.

EMA 50 is bullish right now and can be retested at the support level for another impulse upwards.

RSI is at 60 which needs to be neutralized at the 50 level in order to align with the technical factors.

Ethereum another leg upwards

Feb 17 2024

Stop Loss -2.40%

Holding time 2hr

2742.20

Entry price

2676.40

Stop loss price