ETHUSD holds below $3000 following the footsteps of BTC. It hit an intraday low of $2878 and is currently trading $2928.
Oscillators and moving averages to forecast the trend of ETHUSD
CMP- $2928
EMA (4-hour chart)
55-EMA- $3067
200-EMA- $3151
365-EMA- $3326. The pair trades above short and below long-term moving average.
Major Support - $2875. Any breach below $2875 will drag the pair down to $2800/$2700/$2600/$2500/$2300/$2000.
Major Resistance - $3000. Any break above $3000 confirms minor bullishness, a jump to $3000/$3325/$3500/$3565/$3700/$4000.
Indicators (4-hour chart)
CCI(50)- Bearish
ADX- Bearish
5. Investment Strategy for ETHUSD
It is good to buy on dips around $2700 with a stop loss around $2500 for target profits of $3700/$4000.
