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Ethereum Cracks Below $2,000 as Bitcoin Contagion Bites—Bearish EMA Stack Sets Sights on $1,700

Following the lead of BTC, ETHUSD trades under $2000. It reached a intraday low of $1964 yesterday and is currently trading around $1991.

Technicals

CMP -$1991

Trend

4- Hour chart

Value

 

 

55 EMA

$2102

CMP<55 EMA

Bearish

200- EMA

$2192

CMP <200- EMA

Bearish

365- EMA

$2221

CMP <365 EMA

Bearish

 Major support- $1900/$1700/$1500. Minor bullishness only above $2500. Any violation above targets $2770/$2880/$3000.

 

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bearish

-250.66

ADX

Neutral

Strength increased from 17.19 to 25.17

 

It is good to sell on rallies around 2048-50, with an SL around $2200 and a TP of $1700.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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