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Ethereum (ETH/USD) is trading around $2,126, above the 200-day EMA and the 21-day SMA, and within a downtrend channel that has been forming since March 15.
Ethereum is showing positive signs and is expected to break out and consolidate above $2,150 in the coming hours. If this scenario occurs, it could be seen as a buy signal with targets at the 3/8 Murray level around $2,187, and it could even reach the March 15 high around $2,360.
If Ethereum falls below the 200 EMA, located around $2,103, we could expect a resumption of the bearish cycle, potentially reaching the 21 SMA around $2,064. It could even continue its bearish cycle, reaching the 2/8 Murray level around $1,875.
Conversely, as long as the crypto trades above the 200 EMA, any pullback could be viewed as an opportunity to buy Ethereum with targets at $2,187 and $2,350.
According to the H4 chart, ETH shows signs of exhaustion in its bullish momentum. If Ethereum reaches the 3/8 Murray line around $2,187, it would still face strong resistance, as it has been attempting to break through this zone since early March without success. Therefore, we expect Ethereum to reach this level; it could face a strong rejection, which could be considered a selling opportunity.
*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।
