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Ethereum (ETH/USD) is trading around $1,910, rebounding after reaching a low of $1,820 during the weekend session. Ethereum is rebounding above the 2/8 Murray and is likely to reach the 21 SMA located at $1,957.
Technically, it is likely that the ETH bearish cycle will resume in the coming days. Hence, the crypto could reach the bottom of the downtrend channel around $1,765.
In case of a sharp breakout of the downtrend channel and consolidation below the 2/8 Murray, we can expect ETH to fall to the 1/8 Murray around $1,562.
The key level of the 1/8 Murray could be the target for bears, and Ethereum is expected to reach this level in the coming days.
On the contrary, a consolidation above the downtrend channel and a consolidation above the psychological level of $2,000 could lead to a recovery in Ethereum, which could reach the 3/8 Murray around $2,187, the 200 EMA around $2,272, and finally, the 4/8 Murray around $2,500.
The Eagle indicator has reached oversold levels and is showing a positive signal. However, there is downward pressure, and Ethereum could resume its bearish cycle.
*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।
