Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- Ethereum Daily Outlook

 ETHUSD has trading in a narrow range between $2845 and $3280 for the past ten days. It hit a high of $3236 at the time of writing and is currently trading around $3203.

 

 The correlation of  ETH with the German market DAX increased to 0.70, S&P 500 and NASDAQ reached 0.77 and 0.70 respectively.


The intraday bullishness is possible if it holds above $3300. On the higher side, the near-term resistance is $3280. Any significant jump above the target is $3400/$3500/$3620/$3700/$3800/$4000. Significant bullish continuation only above $4800.

 

The immediate support is around $3100. Any breach below $3100 confirms bearish continuation. A dip to $3000/$2700 is possible. A violation below $2700 will drag the Ethereum to $2500/$2300.

 

It is good to buy on dips around $3000 with SL around $2800 for TP of $4000.

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.