**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


  1. sdlab on 16. May 2022 at 13:05

    such good analysis and such bad target.


  2. [deleted] on 16. May 2022 at 13:05



  3. FreeMan4096 on 16. May 2022 at 13:05

    “Buy today!”


  4. [deleted] on 16. May 2022 at 13:05

    No experienced trader buys at resistance you wait for the close above it, in this case a close above $200 would be a bull signal on the weekly trend.

    You must hate money if you trade like OP suggests. He’s buying ETH at resistance and then selling as soon as it breaks through it, once it’s broken through resistance and closed above it a lot of the risk from the trade is gone, yet that’s when he decides to close the trade.

    Sidenote: none of this applies to long term investments. If you aren’t trading and your just investing then you should have been dollar cost averaging in for the last 12 month.
    If you haven’t bought any yet, anywhere below $500 is a fantastic buy if you are long term bullish and believe we are going to new highs. I recommend buying monthly/weekly and then you can ride out any high purchases if the price retraces.