After seeing downtrend on short-term and medium-term in Ethereum, I decide to analyze long-term trend of Ethereum.
First of all, in this time frame, Ethereum is in an up trend because it has not broke any significant swing low. If long-term trend is up, then we should only buy in this market.
Problem is where to buy long-term Ethereum?
I make 2 cases in my analysis:
Long-term buying zone 475 – 575: We see a very strong pinbar in this zone (first vertical arrow). We also see 2 lower wick candles after the pinbar. There is also big volume with those candles. It shows that there is a very strong buy force in this zone in the past. So I hope it will occur again.
Buy ETH in range 350 – 410: This is the past resistance, and there is a trend-line too. In the past, after touching this trend-line, ETH make a big take off. So we hope ETH will bounce off from this zone.
Above is 2 cases that I analyze for ETH in the next few weeks.
Notice: This is just my opinions, not trading advice.