Ethereum Can Dip To 182 USD
Current scenario of Ethereum:
Right now the ETH is trading at $234.88 in red which is been followed by uptrend cycle with regular correction. Ethereum has already crossed the downward primary trend line and was supported by strong momentum in the upward direction.
Currently, the chart is showing a chance of the correction: Stochastic is signaling that there can be a downward correction as the crossover is visible on the indicator. ADX is slightly above the 25 marks indicating strength but not satisfactory in the short-term.
RSI is also in the upward trend and in the overbought region as the market is bullish and currently around 71.3.
Price is trading on the upper Bollinger band which is also indicating the possibility of long term bull.
Ethereum Can Dip To 182 USD. Right now the convergence line slightly above the baseline. We should wait for the crossover to happen before taking any position.
There are two levels shown in the chart level 1 and level 0 . The best time to enter the market will be when one of those levels are triggered by today’s close.
After the Level 1 target of $306.9 can be achieved. In case of Level 1 is triggered with large volume than the target of $328.27 can also be achieved.
On the other hand, if Level 0 is triggered when there will be a suggestion of shorting up to the level of $182.9 and then $155.82 will play the role of the next support.