ETH JUST FORMED A HAMMER DOJI AT SUPPORT AND BUYERS ARE BACK
Ethereum got dumped to 2411 today and the candle closed at 2529 almost flat on the day
That is a hammer style doji with a lower wick covering 87 percent of the daily range
Someone absorbed every bit of selling pressure at the lows and pushed price back above the 7 day average near 2515
ETH is still down 6 percent on the week and below its monthly average near 2640 so this is a bounce trade not a full trend flip
Support near 2400 held twice now which gives a clean line for a tight stop
My call is BUY
Entry zone 2500 to 2550 dollars
Stop loss below 2400 dollars
Target 2700 dollars
My take as an analyst? This candle shape at a double tested support is one of the highest probability reversal signals on the daily chart and the risk is clearly defined
Are you buying this ETH reversal or do you need a stronger confirmation first?
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #Ethereum
Ethereum got dumped to 2411 today and the candle closed at 2529 almost flat on the day
That is a hammer style doji with a lower wick covering 87 percent of the daily range
Someone absorbed every bit of selling pressure at the lows and pushed price back above the 7 day average near 2515
ETH is still down 6 percent on the week and below its monthly average near 2640 so this is a bounce trade not a full trend flip
Support near 2400 held twice now which gives a clean line for a tight stop
My call is BUY
Entry zone 2500 to 2550 dollars
Stop loss below 2400 dollars
Target 2700 dollars
My take as an analyst? This candle shape at a double tested support is one of the highest probability reversal signals on the daily chart and the risk is clearly defined
Are you buying this ETH reversal or do you need a stronger confirmation first?
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #Ethereum