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Ethereum Technical analysis

Hello Everyone Welcome back to another Ethereum update

Hello ladies and gentlemen as you guys can see Ethereum is still in a beautiful uptrend using our exponential moving averages as support and our main target, of course, remained to be at the 4,028$ major resistance you can see we got pretty damn close to it we hit around the 4K$ Mark and of course, we are now starting to see a little bit of rejection but as long as we hold above our exponential moving averages we are still looking for that continuation into that zone you want to be scalping into that range and taking that profit almost immediately the reason for this is of course when you are nearing all time highs I'm not talking about ethereum in general but just in general but when you are nearing all time High there is a lot of volume that comes into place when you get close to that resistance that you can do is of course as soon as you near that level you can enter a scalp position ride the momentum trade into that major resistance and then exit on that breaks you while you don't want to of course hold a trade for the next major continuation is of course if the the market does end up rejecting that level then you won't be underwater and mostly near the all time or local top high

That's why what I usually suggest of the course is looking to scale those profits as you continue pushing upwards and that's why these exponential moving averages are going to become your best a friend in this current market is because of the fact that they are a very nice area of opportunity when you see that level being hit now in terms of the the daily time frame I've talked about this many times and I'll will continue talking about this again Ethereum is in extreme zones and we have not of course we've seen a one-test confirmation on exponential moving averages but this to me isn't something that I necessarily want to see I want to see a period of Correction and then a continuation and we haven't seen a correction as of right now 4028 of course was a major zone for us and we are pretty much nearing that take profit zone

I would highly suggest you guys take some profits around that zone since we've been trading down here at 2800 of course that's a pretty good decent trade for those of you but if ideal Ethereum does end up reaching that level it is going to cause a massive flush towards the downside because of the fact all of these Traders right here are going to get caught out on that position

What I want to pay attention to of course are the exponential moving averages so if ethereum does end up breaking below and rejecting those exponential moving averages that's our confirmation to start looking for some shorting positions otherwise we are simply just going to keep scalping long as this range plays out if of course the Bulls managed to break above 4,028 and find that area of support then we could possibly look for a swing position into the next range it's going to be at 4,800 but right now everything is dependent on the 4028 rent and seeing how that level plays out but that's pretty much