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Ethereum is trading lower at 2,015 after failing to reach the 2,144 historical high in the most recent attempt. Still, the decline could be only a temporary one as the bias remains bullish despite a minor decline.
The crypto stands far above critical support levels, so it could resume its major uptrend after ending the current retreat. ETH/USD declines as the price of Bitcoin is trading in the red in the short-term.
Ethereum is located right below 2,040 former historical high after its failure to reach and retest the first warning line (WL1). The immediate downside target is seen at the pivot point (1,965).
A valid breakdown below it could signal a further decline towards 1,900 and 1,800 psychological levels. Technically, the bias is bullish as long as the price stands above the pivot point, a false breakdown could bring a new long opportunity.
Actually, we'll get a great buying signal if ETH/USD breaks above the first warning line (WL1).
Buy Ethereum if the price stays above the pivot point and if it makes a valid breakout above the first warning line (WL1). It could print a continuation pattern between right below the WL1.
The R1 (2,255) could be used as an upside target if ETH/USD continues to increase after the current decline.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
