Hey guys. Here is my chart analysis of a ETHUSD pair.
At the moment I can see a strong indication of the next support level formation. Notice that ETHUSD is currently trading in the area of 50% fibonacci retrace. You can see from the chart that it has been historically proven that $850 is a critical zone (Look at how many support and resistance levels are formed). I can see that ETHUSD is climbing upwards the ascending triangle and the break of this formation would suggest a downside road down to $790. Though, in general the cryptocurrency market has entered into a bullish trend so I doubt that ETH will drop significantly. It will retrace back almost instantly. This crypto is strong - I am telling you. I bet $950 is ahead. RSI is bullish, MACD is climbing but very slowly, Aroon Down is weak.
Please REMEMBER that I give you my observations, you form your own opinion and trade it accordingly!
Please NEVER forget to do your own research before considering any investment. Fundamental analysis is also crucial so you have to read the news, updates and about the upcoming events related to a particular blockchain project.
Hope you will find my analysis useful! Stay safe ----> Hedge ----> Diversify ----> Be cautious! - Together we will beat the market!
At the moment I can see a strong indication of the next support level formation. Notice that ETHUSD is currently trading in the area of 50% fibonacci retrace. You can see from the chart that it has been historically proven that $850 is a critical zone (Look at how many support and resistance levels are formed). I can see that ETHUSD is climbing upwards the ascending triangle and the break of this formation would suggest a downside road down to $790. Though, in general the cryptocurrency market has entered into a bullish trend so I doubt that ETH will drop significantly. It will retrace back almost instantly. This crypto is strong - I am telling you. I bet $950 is ahead. RSI is bullish, MACD is climbing but very slowly, Aroon Down is weak.
Please REMEMBER that I give you my observations, you form your own opinion and trade it accordingly!
Please NEVER forget to do your own research before considering any investment. Fundamental analysis is also crucial so you have to read the news, updates and about the upcoming events related to a particular blockchain project.
Hope you will find my analysis useful! Stay safe ----> Hedge ----> Diversify ----> Be cautious! - Together we will beat the market!