The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
ETH/USD (Ethereum) is trading around $2,673, rebounding after hitting the lower band of the uptrend channel formed since September 15 and showing a positive signal. We believe it could continue its rise in the coming days and may reach the $2,810 area again.
Ethereum reached strong resistance at around the 2/8 Murray level. From this high, we've seen a technical correction. We expect Ethereum to recover in the coming days as it has reached strong support around $2,630. Above this zone, we could expect it to continue rising until it returns to the $2,800 highs.
If Ethereum falls below the 1/8 Murray level and consolidates below $2,600, we could expect the downtrend to continue to the 8/8 Murray level around the psychological $2,500 mark. The instrument could eventually reach the 200 EMA around $2,450.
Our outlook is bullish for the coming hours, so we will look for opportunities to buy above $2,650, with targets at $2,700 and $2,770.
If the price reaches the +2/8 Murray level again around $2,812 in the coming days, this could be considered an opportunity to take short positions, as the Eagle indicator is also showing signs of overbought conditions from a technical perspective.
*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.
