ETH/USD upside capped by 5-EMA, break below 7 confirms further bearishness
ETH/USD is trading in a narrow range between 7.23 and 7.33 levels on Tuesday. It is currently trading at 7.26 levels (Kraken). Long-term trend: Bearish Short-term trend: Bearish Ichimoku analysis (Daily chart): Tenkan-Se…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
ETH/USD is trading in a narrow range between 7.23 and 7.33 levels on Tuesday. It is currently trading at 7.26 levels (Kraken).
Long-term trend: Bearish
Short-term trend: Bearish
Ichimoku analysis (Daily chart):
Tenkan-Sen: 7.49
Kijun-Sen: 7.40
Trend reversal: 9.55 (90-EMA)
The pair’s upside is being capped by 7.31 levels (5-EMA) and a break above would target 7.50 levels (psychological) /7.85 (21-day MA).
On the flip side, the 7.00 level is acting as a major support for the pair and any violation would drag it to 6.75 (trend line joining 12.30 and 8.67)/6.55 (78.6% retracement of 5.92 and 8.89)/ 5.92 (December 06 low).
CEO Phong Le called digital credit the company’s main route to more Bitcoin. A $1 billion to $2 billion STRC issuance in a month was hypothetical, with proceeds potentially split between dollar reserves and purchases.
