Ethereum Stuck in Neutral: Range-Bound at $2.9K with Bearish EMAs – But Dip-Buyers Eye $2958 for $3600+ Breakout

ETHUSD trades in a narrow range with no direction. It hit a high of $3075 this week and is currently trading $2966.18.

Oscillators and moving averages to forecast the trend of ETHUSD

CMP- $2966.17

EMA (4-hour chart)

55-EMA- $2970

200-EMA- $3068

365-EMA- $3231. The pair trades below the short-term 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)- Neutral

ADX-  Neutral

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.