Ethereum sellers are struggling to break the $110.00 support level on Tuesday, despite the third largest cryptocurrencies bearish start to the new trading week. The RSI indicator on the four-hour time frame remains close to oversold, while the Stochastic indicator on the mentioned time frame remains inconclusive at present. A clear break from the $110.00 to $125.00 price range should decide the next directional move in the ETHUSD pair. The ETHUSD pair is only bullish while trading above the $125.00 level, key resistance is found at the 140.00 and $158.00 levels. If ETHUSD pair falls under the $110.00 level, key support is found at the $104.00 and 92.00 levels.
I have a signal from a script that says to go long now. I don't really like this location because it's right at a POC. I would like to buy at the gartley D point which is also at the value area low. I'm going to buy a very small amount now because I want to test this script, but mainly I'm waiting for the D point to scale in a bit larger. Stop is on the chart. Target is POC region, and I will definitely get out there because I think longer term there will be chances to buy at around $50. I will be using close stops on this because it's a risky setup.