FxWirePro: ETH/USD faces strong resistance at 21 4H MA, good to buy the dips
ETH/USD has regained sharply after making a low of $13.14 levels (KRAKEN) on Sunday. It is currently trading around $13.60 at the time of writing. Ichimoku analysis of 4-hours chart shows: Tenkan-Sen $13.60 Kijun-Sen $13…
ETH/USD has regained sharply after making a low of $13.14 levels (KRAKEN) on Sunday. It is currently trading around $13.60 at the time of writing.
Ichimoku analysis of 4-hours chart shows:
Tenkan-Sen $13.60
Kijun-Sen $13.63
Trend reversal - $12.40
Long-term trend and the short-term trend remains to be bullish. In daily chart, the pair is facing resistance around $13.80 (21 day MA) and any close above confirms further bullishness.
Major resistance is seen at $13.80 (21 4H MA) and any break above targets $14.08 (61.8% retracement of $15.23/$12.69 (Jul 15th high). Short term support is noticed at $13.43 (7 4H EMA) and break below targets $12.76 (55 4H EMA)/ $12.40 (90 4H EMA).
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