7.13 Ethereum (ETH/USD) Morning Outlook
ETH follows the overall bullish momentum of the crypto market. The larger timeframe has already completed a breakout and surge. After hitting a high in the early hours, it entered a short-term technical pullback and consolidation. The uptrend has not ended. The key idea for the morning is to buy on the pullback and trade in line with the trend, without blindly guessing the top to short at high levels.
The 4-hour chart produced a large bullish candle that broke out of the prior consolidation range. The two moving averages remain pointed upward and the moving-average system forms a solid support. The medium-term uptrend structure is intact. This pullback is merely a digestion phase after the breakout, not a trend reversal.
The latest swing high has set a new stage high. The bulls’ offensive strength is strong, and there has been no reversal candlestick pattern with notable volume indicating a top. Upside room is already open.
Trading suggestion: go long at 1805-1815, with targets at 1840, 1870, and 1900.$ETH
ETH follows the overall bullish momentum of the crypto market. The larger timeframe has already completed a breakout and surge. After hitting a high in the early hours, it entered a short-term technical pullback and consolidation. The uptrend has not ended. The key idea for the morning is to buy on the pullback and trade in line with the trend, without blindly guessing the top to short at high levels.
The 4-hour chart produced a large bullish candle that broke out of the prior consolidation range. The two moving averages remain pointed upward and the moving-average system forms a solid support. The medium-term uptrend structure is intact. This pullback is merely a digestion phase after the breakout, not a trend reversal.
The latest swing high has set a new stage high. The bulls’ offensive strength is strong, and there has been no reversal candlestick pattern with notable volume indicating a top. Upside room is already open.
Trading suggestion: go long at 1805-1815, with targets at 1840, 1870, and 1900.$ETH