$ETH PRICE ACTION IN NEXT 48hrs, MUST READ
$ETH is consolidating in a narrow range of 3300 with it’s nearest resistance at 3500 and support at 3200. Its has bounced well from 3200 level due to a whale buying at that level but has failed to surpass the level of 3500. Possible price action of etherium could be thsi in next 48hrs.
SCENARIO 1: (likely to happen)
$ETH breaks the nearest support of 3200 to touch the level of 3.1k and 3k. Buying pressure is less and a lt of liquidity lies around the area of 3k so it must go there follwothe btc move in next 48hrs.
Possible eneteries:
In case you want to short. Let it break the level of 3200 and then you can enter with stop loss above 33500.
SCENARIO 2: (less likely to happen)
If it break the resistance of 35500 which is a strong region and less likely to break that easily soon. You can enter once it breaks and retest that level.
Possible enteries:
Lets it break the resistance of 35500 region and then restest you can enter long positions there with stoploss below 3400.
My plan: i would rather wait and let it come below 3200 level to enter and long positions where most of the buy orders exisit. I already have place my buy limit there at 3200, 3000 and 2800.
Disclaimer:
Do your research and manage your risk. Protect your capital amount and trade safely.