Ethereum trading cryptocurrency market update for Jun 25, 2019
Jun 26, 2019 --- Altcoins
Ethereum v’s Bitcoin has fallen down to new local and regional lows around the 0.027 level over the past 24 hours on another red SCMR signal and bearish candle formation that has confirmed bearish market structure and sparked new dynamic resistance overhead at 0.0286, none of which bodes well for the bulls moving forward. Neither do the falling moving averages, the strong and still intact dynamic resistance levels above 0.0xx, the lackluster momentum and volume indications, nor the firmly bearish Ichimoku Cloud, so we have been very conservative with the ST ProTrade up to this point. That said, historical support should be getting stronger around these levels which could spark a bounce at any time so we have nibbled a bit here near the lows.
Short term Members ProTrade - We have activated a very small LONG position off of the 0.0272 level with a stop around 0.0xxx and a target of 0.0xxx.
Medium term Members ProTrade - We will consider a LONG position on a selloff down to the 0.0xx - 0.0xx area with a stop around 0.0xx and a target of 0.0xx.
Long term Members ProTrade We will consider a LONG position on a move down to the 0.0xx - 0.0xx area with a stop around 0.00xx and a target of 0.xx.
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