Cabana Capitals Blog Technical Analysis Confirmed breakout on ETHUSD 1 hour chart

Confirmed breakout on ETHUSD 1 hour chart

Confirmed breakout on ETHUSD 1 hour chart post thumbnail image

ETHUSD has broken through a line of 2599.1299 and suggests a possible movement to 2521.4390 within the next 2 days. It has tested this line numerous times in the past, so one should wait for a confirmation of this breakout before taking any action. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 8 days.

Supported by Downward sloping Moving Average

Target: 2521.439 Entry: 2574.74 Stop: 2623.625

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Post