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ETH is trading around $2,665 within a downtrend channel that formed and is consolidating after a strong move that began in early September and peaked near $2,800.
In the coming days, ETH/USD is likely to fall, as it is technically overbought and the Eagle indicator is showing a bearish signal.
If Ethereum reaches the $2,700 area in the coming hours, this could be considered an opportunity to take short positions in anticipation of it reaching the lower band of the downtrend channel around $2,580 in the short term. Ultimately, we expect a strong consolidation around the psychological level of $2,500, which also coincides with the 200 EMA and the 8/8 Murray line.
A break above $2,700 could drive the price to its September 20 high around $2,800; however, this zone represents strong resistance as the +2/8 Murray level is located there, which is a point to take short positions.
Our strategy for the coming hours will be to wait for ETH/USD to reach resistance levels. As long as the cryptocurrency trades below the downtrend channel or reaches the upper band of the downtrend channel, this will be considered a signal to sell.
*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।
