We last reported on this pair one month ago. During that time the Ethereum had been trading at $400. https://fxsits.com/the-ethusd-currently-trades-at-400/ .However, Price had other plans. The previous week was a very volatile week for the pair as we saw price reach new 2020 highs at level 489.08125 .After that plummet bearish to level 362.66606, where it found support before slowly regaining bullish momentum bullish.
Today the pair trades at level 384.11301 which is a few points/pips away. We believe that price has the potential to break past its 2020 high and trade at a higher level. We’ve seen good bullish price action from the pair and think that it could serve as a good investment. Bullish traders have piled up and are prepping to take this market bullish. Where price currently trades today serves as a bargain entry for long term traders who buy into the crypto idea.
However, we must take into account that a very strong confirmation of the signal. Will come at the month end of September. We believe that this monthly candlestick close. Could give us a hint on which direction the market could be approaching. We deem this important due to the erratic movement and spikes that happened only in this month. For more information on where to enter and exit the Ethereum feel free to join our smart plans
NB: Warning Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consider position sizing before entering a trade and manage your risk accordingly. Please read the risk warning before deciding to trade the markets.