ETH/USD Clings Below $3000 in BTC's Shadow: Buy Deep Dips at $2700 Targeting $4000 Breakout

ETHUSD holds below $3000 following the footsteps of BTC. It hit an intraday low of $2878 and is currently trading $2928.

Oscillators and moving averages to forecast the trend of ETHUSD

CMP- $2928

EMA (4-hour chart)

55-EMA- $3067

200-EMA- $3151

365-EMA- $3326. The pair trades above short and below long-term moving average.

Major Support - $2875. Any breach below $2875 will drag the pair down to $2800/$2700/$2600/$2500/$2300/$2000.

Major Resistance - $3000.  Any break above $3000 confirms minor bullishness, a jump to $3000/$3325/$3500/$3565/$3700/$4000.

Indicators (4-hour chart)

CCI(50)- Bearish

ADX-  Bearish

5. Investment Strategy for ETHUSD

It is good to buy on dips around $2700 with a stop loss around $2500 for target profits of $3700/$4000.