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ETH Pulls Back to $ 2,020 After $ 2,200 Spike – Buy-the-Dip Setup Emerging?

ETHUSD pared some of its gains following the footsteps of BTC. The pair trades near $2020.32 after reaching a high of $2200.

 

Technicals

CMP -$2020

Trend

4- Hour chart

Value

 

 

55 EMA

$2020

CMP > 55 EMA

Bullish

200- EMA

$2141

CMP < 200- EMA

Bearish

365- EMA

$2372

CMP <365 EMA

Bearish

 

Major support- $1700/$1500. Minor bullishness only above $2200. Any violation above targets $2300/$2380/$2500.

 

Momentum indicator (1-hour chart)

Inference

Value

CCI(50)

Bullish

55.99

ADX

Neutral

 

 

It is good to buy on dips around $2000, with a SL of $1900 and a TP of $2380/$2500.

 

 

 

 

 

 

 

 

 

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