I intend to keep the following post concise and to the point.
As exhibited on the daily timeframe of ETH/USD (Ethereum versus the US dollar), price recently shook hands with support from US$2,332. Not only does this base serve as a historically significant barrier, but it also coincides with the 50-day simple moving average at US$2,305 and a trendline support, extended from the low of US$1,381.
Given the current support in play, I am closely monitoring the overhead decision point zone at US$2,571 – US$2,450. It was within this area that a ‘decision’ was made to whipsaw through the noted support area. Consequently, if price engulfs the said decision point, this could unearth a short-term bullish scenario towards resistance at US$2,813.
Written by FP Markets Chief Market Analyst Aaron Hill
As exhibited on the daily timeframe of ETH/USD (Ethereum versus the US dollar), price recently shook hands with support from US$2,332. Not only does this base serve as a historically significant barrier, but it also coincides with the 50-day simple moving average at US$2,305 and a trendline support, extended from the low of US$1,381.
Given the current support in play, I am closely monitoring the overhead decision point zone at US$2,571 – US$2,450. It was within this area that a ‘decision’ was made to whipsaw through the noted support area. Consequently, if price engulfs the said decision point, this could unearth a short-term bullish scenario towards resistance at US$2,813.
Written by FP Markets Chief Market Analyst Aaron Hill
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.