Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
Since June 25, Ethereum (ETH/USD) has begun a strong rally above $1,500, reaching $1,841 during Monday's US trading session. This represents a sharp increase of more than 20%. As a result, a technical correction is expected in the coming days, as the price has technically reached overbought levels.
On the H4 chart, we can see that Ethereum has consolidated above the Murray 2/8 line, the 200 EMA, and the 21-day moving average, reinforcing its positive outlook.
If the ETH price consolidates above $1,750 in the coming days, it is likely to continue rising until it reaches the Murray 3/8 line, around $1,875.
Beyond $1,875, ETH could reach the psychological level of $2,000; however, it may struggle to reach this target, as it is technically in overbought territory.
If, in the coming hours, the ETH price falls below the 200 EMA and the Murray 2/8 level, the outlook could turn negative, and a sharp technical correction toward the Murray 1/8 level—around $1,625, which also coincides with the lower band of the bullish channel—could be expected.
The Eagle indicator has reached overbought levels; however, the outlook for Ethereum remains positive, so it is likely to continue rising. A possible entry point for short positions could be if it reaches $1,875 or if the ETH price falls below $1,750.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
