ETH/USDT - considerable entry points into the long term position
Hello, traders!
ETH price has significantly corrected after going into a trend.
The business cycle is nearing its end, which is confirmed by the weakness of the instrument.
The price is under MA100 and MA200 on the daily timeframe. Also, the RSI indicator value is constantly decreasing and gradually approaching the oversold level.
The range of $1050 - $1440 from which the asset went into the trend within the current year is interesting for mid-and long term purchases.
The position should be obtained in portions, for example, the first part can be obtained near the level of $1440, and the second and the third near the levels of $1275 and $1050 correspondingly.
The targets for such purchases will be levels of
$2300
$2488
$3200
$3590
$4180
The stop loss should be calculated depending on the amount of money involved in the trade.
For compliance with risk management, it is advisable not to exceed the limit of 10-20% of the deposit for one transaction.
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
ETH price has significantly corrected after going into a trend.
The business cycle is nearing its end, which is confirmed by the weakness of the instrument.
The price is under MA100 and MA200 on the daily timeframe. Also, the RSI indicator value is constantly decreasing and gradually approaching the oversold level.
The range of $1050 - $1440 from which the asset went into the trend within the current year is interesting for mid-and long term purchases.
The position should be obtained in portions, for example, the first part can be obtained near the level of $1440, and the second and the third near the levels of $1275 and $1050 correspondingly.
The targets for such purchases will be levels of
$2300
$2488
$3200
$3590
$4180
The stop loss should be calculated depending on the amount of money involved in the trade.
For compliance with risk management, it is advisable not to exceed the limit of 10-20% of the deposit for one transaction.
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice