ETH is testing daily resistance today at $2,749.98 after rising 6.05% in 24h. The current price is $2,742.05, sitting right above the EMA20 on the 4h timeframe.
$ETH – LONG
Trading plan:
Entry: $2,737.56 – $2,746.54
SL: $2,697.14
TP1: $2,822.89
TP2: $2,861.82
TP3: $2,906.73
Why this setup?
• The 4h trend is LONG; EMA20=$2,622.09, EMA50=$2,552.36.
• RSI 15m=50.0; RSI 4h=72.7.
• ATR 1h=$29.9421; the entry is around the current price, TP1 has an R:R of 1.8.
Discussion:
Strong upward momentum could push price to break above the daily resistance, however RSI 4h is already in an overbought area at 72.7, increasing the probability of a pullback that sweeps the SL before price continues higher.
Click here to trade 👇
$ETH – LONG
Trading plan:
Entry: $2,737.56 – $2,746.54
SL: $2,697.14
TP1: $2,822.89
TP2: $2,861.82
TP3: $2,906.73
Why this setup?
• The 4h trend is LONG; EMA20=$2,622.09, EMA50=$2,552.36.
• RSI 15m=50.0; RSI 4h=72.7.
• ATR 1h=$29.9421; the entry is around the current price, TP1 has an R:R of 1.8.
Discussion:
Strong upward momentum could push price to break above the daily resistance, however RSI 4h is already in an overbought area at 72.7, increasing the probability of a pullback that sweeps the SL before price continues higher.
Click here to trade 👇
