Ethereum technical analysis & trade idea

ETHEREUM TECHNICAL ANALYSIS and TRADE IDEA for September 11, 2022

• This piece presents a technical analysis of the September 11 trade of ethereum against the US dollar.
• We have a channel that is also a bull flag on the daily time frame. The green arrows of the video show the lower frequency band, while the red arrows indicate the higher frequency band
• Cryptocurrencies have followed the upward trend of the stock market and are showing signs of recovery. Even if only temporarily, it is still valuable enough to trade
• Since we are no longer in the early stages of the recent rally, coming up with a viable business idea has proven to be quite difficult. But, I’ll still give you one. The goal is to fill up at a lower price and then take a Long trade with a leverage of 2:1
• Many auto trading systems and human traders set stop losses near the daily 20 EMA. Institutions want to stop Longs there, and we will try to fill our order there
• The entry price is $1636.42. With a stop loss set at $1457 and a take-profit target of $1995, this trade has a risk-reward ratio of 2-to-1.
• Bitcoin traders can also follow this technical analysis and find a similar trade, especially when ETH is leading the market, currently
• Ethereum trading is a high-risk endeavor, so do your own research. Have a great week, and please visit ForexLive.com technical analysis for more insightful analysis