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