Panic Sell Ethereum or Set Buy Orders at $382?

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The orange horizontal is a major level for price to flip from a 2-year bear trend into a new bull cycle.

Which means… it needs to be tested.

The recent euphoric price breakout is a sign of things to come, but markets get nervous, traders take profits, and whales like to manipulate weak hands.

The longer-term chart structure looks strong for continuations to the upside, but there will always be swings and roundabouts.

The 4-hour chart shows an 11% drop back down to that major horizontal support level .

Consolidating here for some days would be healthy consolidation.

Bulls will be buying barrels of Eth around $382 if price does drop back down to that point.

You can optimise your trading plan using the current alpha version of SparksterSignals backtesting tool at http://algo.sparkster.me/

Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.

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