**Ethereum price is currently inside the Key Resistance area! But the upward move could keep up!**



\* The price of Ethereum has eventually hit our ‘Long’ target at the Key resistance area = $190 – $195.

\* Now, we observe a bullish rejection pattern at this level, where H4 red Doji candle was followed by a bullish engulfment.

\* We think that the upward movement will keep gradually going and the break-out of the resistance area would be rather stepwise and ‘soft’.

\* At the same time, RSI is approaching overbought territory on H4 timeframe, assuming that the spike above $195 may also happen and then the price could well retest $190 – $195 as a new Support.

**Active trade signal**

Buy @ $190 – $195.
Target: $220.
Stop-loss: $187.


*This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.*

➔ Visit Binance now and start trading