Ichimoku analysis (4-Hourly chart)
Tenken-Sen- 1681
Kijun-Sen- $1692
ETHUSD has taken support near trend line and shown more than $300 recovery. The pair was one of the best performers this week and surged nearly 10%. Short term trend of this pair is bullish as long as support $1520 holds. It hits an intraday high of $1851.24 and is currently trading around $1832.87.
On the lower side, ETHUSD is facing strong support around $1770 (23.6% fib) and any violation below will drag the pair down to $1750/$1723/$1690.
The near-term resistance is at $1870, any indicative break above targets $1900/$1943.Significant trend continuation only above $2040.
Ichimoku Analysis- The pair is trading well above Kijun-Sen, Tenken-Sen, and cloud. This confirms minor bullishness.
Indicator (4 Hour chart)
CAM indicator –neutral
Directional movement index –neutral
It is good to buy on dip around $1650-55 with SL around $1520 for TP of $2000.
