Time to roar crypto – Ethereum breakout
In this article, we will take a look at the Ethereum from higher time frames to actionable lower time frames
On the monthly chart, we can see that the instrument has broken above the long-term consolidation base. After the break above the long-term uptrend resistance 366, we got a confirmation for the upside continuation. Looking higher target is 600.
The weekly chart is indicating the strong upside support for a continuation higher. The support is 360-400 zone and any dips lower should be used for a high probability buy trade entries.
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On a daily chart, we can see that the instrument is supported by the uptrend line. You can start building your buying position by placing stop-loss orders below 360 to target 600 in the next move higher, which will probably begin with a new leg lower in the stock market.
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We have used the combination of the top-down trading analysis to get these key levels explained in the charts.
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