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!
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Ethereum is trading around $3,300, undergoing a slight technical correction after decisively breaking the 200 EMA and reaching the top of the downtrend channel, which acted as strong resistance.
In the coming hours, Ether is expected to continue its technical correction and could reach the 200 EMA around 3,181.
According to the H4 chart, ETH has reached overbought levels, so a technical correction is more likely to occur in the coming hours and could suggest an opportunity to open short positions.
In the event of a pullback towards the 3/8 Murray located at 3,437, this level coincides with the top of the uptrend channel and could be seen as an opportunity to sell with short-term targets around 2/8 Murray at 3,125. Finally, Ether is expected to reach the psychological level of $3,000 and even fall to the bottom of the bullish downtrend channel around $2,910.
Our outlook for the coming days is negative as we are seeing overbought levels. Therefore, as long as the price remains below $3,450, any technical rebound should be used as an opportunity to enter short positions.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.
