As the market expects a 25 basis point rate increase by the BOJ, ETHUSD trades at less than $3000. It is now trading $2970, having earlier reached an intraday low of $2971.
Oscillators and moving averages to forecast the trend of ETHUSD
CMP- $2975
EMA (4-hour chart)
55-EMA- $3127
200-EMA- $3175
365-EMA- $3350. The pair trades above the short-term moving average and below the long-term moving average.
Major Support - $2960. Any breach below $2960 will drag the pair down to $2700/$2600/$2500/$2300/$2000.
Major Resistance - $3000. Any break above $3200 confirms minor bullishness, a jump to $3325/$3500/$3565/$3700/$4000.
Indicators (4-hour chart)
CCI(50)- Bearish
ADX- Neutral
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.


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