ETH/USD Confluence at the Upper Resistance Zone

2 min read
tarantula fx

tarantula fx

Head of Trading

Hi traders,

The ETH/USD has formed a bearish congestion at the upper resistance zone close to H4 upper Bollinger Band and a descending trend line.

The rejection from the POC zone 203.50-204.30 should target 201.47 and 200.05. If we see a drop below 200.05 then that will be a short breakout trade targeting 197.65. Watch for volatility regarding cryptos in general and pay attention to a potential rejection. Only a clear close above 204.50 will make the ETH/USD bullish.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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