Ethereum technical analysis & trade idea

ETHEREUM TECHNICAL ANALYSIS and TRADE IDEA for 11 Sept, 2022

This piece presents a technical analysis of the 11th of September’s trading of ethereum against the US dollar
We have a channel that is also a bull flag on the daily time frame. The video’s green arrows point to the lower frequency band, while the red arrows indicate the higher frequency band
Cryptocurrencies have followed the stock market’s upward trend and are showing signs of recovery. Even if only temporary, it’s still valuable enough to trade
Since we are no longer in the early stages of the recent rally, coming up with a viable trade idea has proven to be quite challenging. But, I’m still going to give you one. The goal is to get filled at a lower price and then make a Long trade with a leverage of 2:1
Many automated trading systems and human traders set stop losses near the daily 20 EMA. Institutions want to stop out 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-to-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