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Ethereum (ETH/USD) is trading around $1,585, pulling back after a strong rally during Monday's US trading session. Ethereum has found solid support around the 21 SMA at $1,581. Above this level, we could expect ETH to resume its uptrend and continue rising in the coming days until it reaches the 200 EMA around $1,754.
If Ethereum falls below the 21 SMA at $1,580, we could expect it to continue falling in the coming days until it reaches the psychological level of $1,500.
If Ethereum reaches the $1,500 zone again, it could form a triple bottom pattern, which would be a positive signal, and this level could be seen as an opportunity to open long positions.
Given that Bitcoin is trading at the psychological level of $60,000, we could expect Ethereum to consolidate above $1,500 in the coming days, so any pullback in this zone will be seen as a buying opportunity.
On the chart, we observe a bearish channel that has been forming since June 15. Therefore, if Ethereum reaches $1,650, it will likely need to break decisively above this zone to continue rising. The first target could be the 2/8 Murray level around $1,750, followed by the 200 EMA around $1,754.
Above $1,750, the outlook could be more positive for buyers, and the price could reach the psychological level of $2,000.
If ETH breaks below $1,500, the downward momentum could accelerate, and the price could reach the 1/8 Murray level around $1,350.
*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।
