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07.04.202108:02 Forex Analysis & Reviews: Ethereum Attention At Resistance!

ETH/USD is trading at the 2,101.45 level trying to break a dynamic resistance after invalidating a new strong drop. The bias remains bullish after passing and stabilizing above 2,040 former all-time high.

Ethereum should jump higher if the price of bitcoin continues to increase after its temporary consolidation.

ETH/USD Towards Fresh Historical Highs!

Exchange Rates 07.04.2021 analysis

ETH/USD is trying once again to break above the first warning line (WL1) of the former descending pitchfork after retesting 2,040 broken resistance.

It istrading far above the weekly pivot point (1,966) signaling a potential growth towards the R1 (2,255) if it closes and stabilizes above the warning line (WL1).

ETH/USD Forecast!

A bullish closure above 2,151 yesterday's high on the H4 chart is could represent a buying opportunity with a first target at the R1 (2,255).

The upside scenario could be invalidated only by a valid breakdown below the pivot point (1,966).

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

Ralph Shedler,
Analytical expert of InstaSpot
© 2007-2024
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