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Ethereum in Consolidation: ETH Trapped in Narrow Range as Bulls Await the USD 2,000 "Buy the Dip" Opportunity

Ethereum has traded in a narrow range between $2199 and $1937 for the past five days. After hitting a peak around $2199, it’s currently hovering near $2029.

Technicals

CMP -$2029

Trend

4- Hour chart

Value

 

 

55 EMA

$2065

CMP < 55 EMA

Bearish

200- EMA

$2105

CMP < 200- EMA

Bearish

365- EMA

$2217

CMP < 365 EMA

Bearish

 Major support- $1700/$1500. Minor bullishness only above $2200. Any violation above targets $2386/$2500/$2700/$2880/$3000.

 

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bearish

-18.72

ADX

Neutral

 

 

It is good to buy on dips around $2000 with SL around $1700 for a TP of $2770.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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