The air reached the goal of short-term growth $783,68. For the past day the Ethereum reached the goal of short-term growth at the level of $783,68. Otherwise, everything is unchanged, except for the restoration phase of growth for short-term trend.
General description of the situation
Layout direction and type of movement on the trends in the following:
— the main trend — rising;
long — term trend is in downward correction;
— medium term trend is in upward correction;
short — term trend — rising;
— local trend is upward;
— the daily trend is upward.
The market has broken to the upside the key channel local trend $596,03-$710,53, continuing growth within the short-term trend and reached the goal of short-term growth to the resistance level 783.68 from the area where the correction has begun in the daily trend in the key channel $726,47-$785,11.
Breakthrough the upper boundary of the key channel will continue the growth of quotations in the medium-term trend with a target at $927,25.
Break of the lower border of the channel key will expand the correction range of the correction of the local trend, but will not cancel the script medium-term growth.
Resistance levels: 783.68, 785.11, 927.27, 1417.07.
Support levels: 726.47, 701.46, 596.03, 593.57, 562.03, 357.34.
Trading strategy and tactics
Tactic of long-term investments remains unchanged, “buy and hold” with unclear goals.
Speculative positions:
— medium — hold long positions with the target in the area of resistance is around $927,27 and with a stop for support $596,03 and connected to the volume on the pullbacks of the local trend;
— the short position is closed, profit is fixed for the purpose. Within a short-term strategy trade is suspended, the market is only the medium position.
Market analysis made on the basis of the SWT-method
Author: Nicholas Skrigan, Ph. D., project analyst coinspot
The review reflects the subjective position of the analyst Coinspot subject to personal trading style. Trading operations with cryptocurrency are increased risks due to the nature of the market. The editors are not responsible for your trading decisions and recommends trading only to those funds, the loss of which will not be critical.
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