empty
 
 
pt
Suporte
Abertura instanânea da conta
Plataforma de negociação
Depósito/Retirada

05.04.202109:20 Forex Analysis & Reviews: Ethereum Rejected From New All-Time High!

Ethereum is trading lower at 2,015 after failing to reach the 2,144 historical high in the most recent attempt. Still, the decline could be only a temporary one as the bias remains bullish despite a minor decline.

The crypto stands far above critical support levels, so it could resume its major uptrend after ending the current retreat. ETH/USD declines as the price of Bitcoin is trading in the red in the short-term.

ETH/USD Loses Altitude!

Exchange Rates 05.04.2021 analysis

Ethereum is located right below 2,040 former historical high after its failure to reach and retest the first warning line (WL1). The immediate downside target is seen at the pivot point (1,965).

A valid breakdown below it could signal a further decline towards 1,900 and 1,800 psychological levels. Technically, the bias is bullish as long as the price stands above the pivot point, a false breakdown could bring a new long opportunity.

Actually, we'll get a great buying signal if ETH/USD breaks above the first warning line (WL1).

Ethereum Forecast!

Buy Ethereum if the price stays above the pivot point and if it makes a valid breakout above the first warning line (WL1). It could print a continuation pattern between right below the WL1.

The R1 (2,255) could be used as an upside target if ETH/USD continues to increase after the current decline.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Ralph Shedler,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

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.

Earn on cryptocurrency rate changes with InstaSpot
Download MetaTrader 4 and open your first trade
Não pode falar agora?
Faça sua pergunta no chat.