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Ethereum Tests the Floor: Bulls Eye a Recovery as Key Averages Hold

ETHUSD trades below $2300, following the footsteps of BTC. It reached a low of $2285 yesterday and is now trading at about $2312.

 

Technicals

CMP -$2315

Trend

4- Hour chart

Value

 

 

55 EMA

$2322

CMP <55 EMA

Bearish

200- EMA

$2251

CMP >200- EMA

Bullish

365- EMA

$2248

CMP >365 EMA

Bullish

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

 

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bearish

-123.42

ADX

Neutral

 

 

It is good to buy on dips around $2300 with SL around $2200 for a TP of $2770.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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