Ethereum (ETH) Price Update: Bounce Price Target
Hi guys!
Here are my thought on Ethereum for today.
ETH - Daily Chart
Tools used:
I mentioned yesterday about breakdown price target around $540. And now ethereum is slowly starting to rally to the upside so that is my rough price target. Usually I would choose the 0.618 fib level but this time I think 0.5 fib level would be more probable.
Since ethereum is less volatile than bitcoin and so the bounce will be in my opinion.
Disclaimer
You know the drill guys. This is just opinion and not a financial advise. Do you own research and decide your own trades. Cheers!
Currently holding the most Eth. Hoping for that bounce!
It will bounce for sure but by how much nobody knows. But fib tools are great for price target for sure.
Like your chart drawing with few indicators , FIB and Volume indicator.
If one understand price action, really no need too much indicators although I like to use more for fun.
On your daily chart, I agree with ETH eventually will rebound back to $700 based on ETH most of the time will go back up to where the last Panic selling started which is $700 in your chart.
now, be the good time to Buy ETH at discount.....imo
Thanks! I like simple charts too.
I think even with volume and some fibs you can create a trading strategy easily. However, other trading tools like ichimoku cloud can help provide confirmation on possible trade setup.
I think trader who bought bitcoin and just swing trade with the bounce will make more profit compared to ethereum. I try not to get attach to my coins so as long as they make me money, that's great.
I understand what you meant. I think depends lot on the traders' profit goals and how much risk tolence and what style of trader they are. I do not have patience to swing trade waiting for 2 days to 4 days to see the result of my trade.
Every trader has their own trading style so they have to decide and make plan for themself otherwise it's not going to work.
What is your favorite trading style that consistently gives you profit?
So far swing trade make the most profit. I tried day trader by shorting bitcoin but did't go so well.
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