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Ethereum has been one of the best-performing cryptocurrencies in the market, with significant gains since the beginning of the year. The recent technical analysis of the Ethereum/USD chart shows a potential bullish trend in the near future.
The updated technical analysis of the Ethereum/USD chart indicates that Ethereum has broken out of a key resistance level against USD, which could lead to further gains.
The cryptocurrency is trading within an ascending channel on the USD chart, signaling a potential bullish move.
Ethereum is trading above its 50-day moving average, indicating a bullish trend. However, the Relative Strength Index (RSI) is approaching overbought levels, which indicates a potential correction.
Hence, Ethereum may experience a pullback before continuing its upward trend against USD.
Traders should keep an eye on the price action around the 2500$ level, as it is a key resistance level. A break above this level could lead to further gains towards the 3000$ level. Conversely, a break below the 2000 $ support level could lead to a short-term bearish trend.
In summary, Ethereum against USD chart points to further continuation of the ongoing bullish trend, with a key resistance level at 2500.
Traders should be cautious and wait for confirmation of the bullish trend before entering any long positions.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
