Ethereum Entry Levels

The price moves upward in an ascending channel. Now we can see that the market is near a possible reversal zone formed by the top border of the price channel and 265.00 resistance level. Probably we'll see see price reversal from this zone with further short term downward movement. As we have a confirmed uptrend, we should search for entry levels for buying. The zones for possible trades, where the price can be reversed after downward movement, are at the middle and the trend lines of the ascending channel. If the market drops to one of these zones, we should be ready to buy based on a reversal signal. Stop orders must be placed below the local swing low. Profit target should be at the top border of the price channel and the resistance zone. Don't forget that all reversal signals must be confirmed by RSI reversals.

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When price breaks the top border of a price channel, it's a confirmation of strong upward movement. But for opening long trades we still need a short tem retracement to the middle or the trend lines of the price channel.

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The price broke the possible reversal zone and moved higher. It a confirms that we have a very strong upward movement. The next reversal zone is at 300.00 resistance level.