![](https://steemitimages.com/DQmeukWaaWjS6iUztHkks8SPxqb8y1vWNMTNsTMWHha6T9f/image.png)

I had a comment /request from someone to look into analysing Ethereum.  Everyone out there is scared to buy.  You should be skeptical too. As a trader, I look at the technicals only to eliminate the noise.  I have mentioned in previous posts, charts do not lie, pumpers do.  

In order to even consider going long, make sure price breaks above the upper trendline first.  There will be some resistance at around 237, so there are two scenarios:
1.  It hits that area and retraces back.  Once I see it holds above the broken upper trendline, I am planning to go long.  Small quantities at first in case it poops out.  Sorry for the non-technical terms, but trading can be messy :)
2. It blasts through 237. If it does, then you know you missed the trade, but it is safer to wait.

These what-ifs scenarios are one of many. IF it does not pan out the way I see it, then NO trade for me. As simple as that.  The R:R is decent.  Depending on what you plan to do with ETH, to me, it really needs to break above 260 in order to consider it a reversal.  In the medium term, I see consolidation as it is trying to discover value. Went too high, now testing lower.  Not surprising it will develop a trading range before it does turn around.

Trade your own plan, due your own diligence.  Feel free to ask me questions, post comments to tell me if you disagree, or if you have any request for me to look into another coin trading pair. 

Until my next post, live well.