August 18, $ETH market analysis
The ETH order book is very simple.
Support below: 1862–1870. As long as it doesn't break, look for a rebound.
This rebound is indicated on the 1-day chart.
The breakout is above the 2-day resistance: 1920–1941.
ETH's 4-hour chart has already turned to the upside, while the 15-minute chart shows divergence. Therefore, for intraday trading, look for a pullback to the 1-hour support: 1895.
If it breaks down below the support: 1885, then 1855.
Personally, I will continue holding my ETH spot.
Yesterday, at around 1870, I added to my coin-margined position. When the rebound reached around 1890, I reduced some. I'll keep the core position. If it pulls back today, I will consider buying back the reduced amount.
The ETH order book is very simple.
Support below: 1862–1870. As long as it doesn't break, look for a rebound.
This rebound is indicated on the 1-day chart.
The breakout is above the 2-day resistance: 1920–1941.
ETH's 4-hour chart has already turned to the upside, while the 15-minute chart shows divergence. Therefore, for intraday trading, look for a pullback to the 1-hour support: 1895.
If it breaks down below the support: 1885, then 1855.
Personally, I will continue holding my ETH spot.
Yesterday, at around 1870, I added to my coin-margined position. When the rebound reached around 1890, I reduced some. I'll keep the core position. If it pulls back today, I will consider buying back the reduced amount.