Trading plan for Ethereum for July 15, 2021

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Technical outlook:
Ethereum might have carved a higher low around $1,865 levels yesterday and could be looking to resume higher again towards $2,900 levels at least. The recent boundary that is being worked upon is between $1,700 and $2,400 levels respectively. Also note that Ethereum has potential found support just around fibonacci 0.618 retracement of the above boundary (not shown here).

Ideally, Ethereum bulls might take control back from here and resume its rally towards $2,900 and higher levels. Bottom line for the above to hold well remains $1,700 lows, which should hold well. Immediate support is seen around $1,700 mark, while resistance is at $2,900 levels respectively. Also note that March 2020 trend line support also remains intact for now.

Ethereum is seen to be trading above $1,900 levels at this point in writing and is expected to turn higher from here soon. Traders are advised to initiate fresh long positions here with risk below $1,700 and potential target above $2,900 levels respectively.


Trading plan:
Remain long, stop @ 1,600, target is @ 2,900 at least.

Good luck!



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Oscar Ton
Analytical expert
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