Ethereum (ETH) – May 11
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( ETHUSDT 1W Chart)
We need to see if we can rise above 2531.05.
(1D chart)
As it fell below 2531.05, I think the chances of further declines are increasing.
Therefore, it is important to see if it rises above 2531.05.
Since the 1475.0-1728.74 section is a support section to rise above 2531.05, if the price is maintained above this section, it is expected that the upward trend will continue in the mid- to long-term.
(buy)
– After confirming the support at 2596.20
(Stop Loss)
– When it falls below 2531.05 and receives resistance
(Sell)
– When receiving resistance near 2871.13
– When resistance is received in the vicinity of 3281.51
The 1995.50 point is a passing support and resistance point, so buying or selling at this point is not recommended.
However, the reason for the indication is that there is a possibility that a whip saw may occur near this point.
So, if it fails to rise above 2531.05, the next support zone is 1475.0-1728.74.
(buy)
– After confirming the support in the section 1611.62-1728.74
(Stop Loss)
– When it falls below 1475
(Sell)
– When receiving resistance near 2531.05
– When resistance is received in the vicinity of 3281.51
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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume .
However, for convenience, we are talking in reverse for the interpretation of the indicator.
** The MRHAB-T indicator used in the chart is an indicator of our channel that has not been released yet.
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
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