ETHUSD trades in a narrow range with no direction. It hits an intraday high of $3034 and is currently trading $3026.
Oscillators and moving averages to forecast the trend of ETHUSD
CMP- $3026
EMA (4-hour chart)
55-EMA- $2968
200-EMA- $3032.92
365-EMA- $3177. The pair trades above short and below long-term moving average.
Major Support - $2900. Any breach below $2900 will drag the pair down to $2600/$2500/$2300/$2000.
Major Resistance - $3200. Any break above $3200 confirms minor bullishness, a jump to $3320/$3458/$3565/$3700/$4000.
Indicators (4-hour chart)
CCI(50)- Bullish
ADX- Bullish
5. Investment Strategy for ETHUSD
It is good to buy on dips around $2958-60 with a stop loss around $2700 for target profits of $3540/$3600.
