Technical analysis: . ONT/ETHEREUM is in a range bound and the resumption of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 47. . While the price downtrend in the Daily chart is not broken, bearish wave in price would continue.
Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.008128 to 0.007406). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.008128) Ending of entry zone (0.007406)
Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.009346 TP2= @ 0.010601 TP3= @ 0.012390 TP4= @ 0.014620 TP5= @ Free
@fxniki, Good luck to you too.
Thank you for your comment.
j0k3r99
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My only issue with the "buy zone" is that if it reaches that region, the bullish divergence goes away. That said, this analysis is also good reason not to panic if the divergence is broken.
Good Luck!