Two Shorts for Ethereum (ETH)
An average entry of $271 is defined. The stop-loss order is placed at $281.5, slightly above the May 16 high. This is a stop loss of 3.7%.Our first target is set at $233 and the second one is set at $201.
Combined with the stop loss mentioned above, the first target of $233 gives a 3.8:1 Risk/Reward ratio.
The second target of $201 gives a 7:1 Risk/Reward ratio. This should be considered a final target. While we would expect the first target to be reached in less than ten days, we believe at least a month is required for the second one to be hit. This hypothesis will be assessed again as the price movements give more data to analyze.A Short For ETC
An average entry of $7.90 is defined. The stop-loss order is placed at $8.11, slightly above the May 16 high. This is a stop loss of 3%.Our target is set at $6.40, slightly above the long-term ascending support line.
Combined with the stop loss presented above, our target presents a 6:1 Risk/Reward ratio. We would expect this target to be reached in around 20 days.
Summary
A brief summary of both trade setups is presented in the table below:| TRADE SETUPS | Ethereum Classic (ETC) | Ethereum (ETH) |
| Trade Setup 1 | Short Risk/Reward Ratio : 6 | Short Risk/Reward Ratio : 3.8 |
| Trade Setup 2 | N/A | Long Risk/Reward Ratio : 7 |
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