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ETHUSD Technical Analysis - ETHUSD Trading: 2023-06-23
ETHUSD Technical Analysis Summary
Above 1930
Buy Stop
Below 1615
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
ETHUSD Chart Analysis
ETHUSD Technical Analysis
On the daily timeframe, ETHUSD: D1 is in a long-term rising channel and has come out of a short-term descending channel. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if ETHUSD: D1 rises above the last high: 1930. This level can be used as an entry point. The initial risk limit is possible below the Parabolic signal, 200-day moving average line, and the last 2 lower fractals: 1615. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (1615) without activating the order (1930), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Crypto - ETHUSD
Cryptocurrencies have risen in price against the background of a possible increase in the number of participants in the crypto market. Will ETHUSD quotes continue to grow?
In a previous review dedicated to BTCUSD, we already wrote that a number of large investment companies are going to register their Bitcoin ETF crypto funds. In addition, a new crypto exchange is planned to be launched in the US. All this can increase the interest of players in other cryptocurrencies. Over the past 7 days, BTCUSD has risen in price by about 20%, ETHUSD - by 15%. An important factor for Ethereum may be the recent statement by one of its creators, Vitalik Buterin, that further improvement of this cryptocurrency is planned. In particular, communication and data exchange between Ethereum Layer 1 (L1) and Layer 2 (L2) can be improved.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
