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Ethereum (ETH/USD) is trading around $3,141, below the 200 EMA, and within the uptrend channel formed since November 21, with a slight recovery but showing signs of exhaustion.
Over the weekend, ETH reached the key support level of $2,900, which served as a good support, giving momentum to the cryptocurrency. The price is now above the 2/8 Murray, which is likely to continue rising in the coming days until it reaches the top of the uptrend channel around $3,310.
Conversely, if Ether falls below the 2/8 Murray and consolidates below the 21 SMA, we could expect a resumption of the bearish cycle, which could push the price down to 1/8 Murray around $2,812.
In the coming days, it is more likely that Ethereum will trade within the range below $3,300 and above $2,800. Both levels suggest an opportunity to open long and short positions when it approaches resistance and support levels.
With a sharp drop and break below $2,800, we could see ETH reach the psychological level of $2,500, which coincides with the 0/8 Murray. Don't miss an opportunity to enter short positions if the price consolidates below the uptrend channel.
*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।
