Ethereum Coils in Tight Range: Bullish Signals Emerge – Buy Dips Targeting $3600

ETHUSD trades in a narrow range with no direction. It hits an intraday high of $3034  and is currently trading $3026.

Oscillators and moving averages to forecast the trend of ETHUSD

CMP- $3026

EMA (4-hour chart)

55-EMA- $2968

200-EMA- $3032.92

365-EMA- $3177. The pair trades above short and below long-term moving average.

Major Support - $2900. Any breach below $2900 will drag the pair down to $2600/$2500/$2300/$2000.

Major Resistance - $3200.  Any break above $3200 confirms minor bullishness, a jump to $3320/$3458/$3565/$3700/$4000.

Indicators (4-hour chart)

CCI(50)- Bullish

ADX-  Bullish

5. Investment Strategy for ETHUSD

It is good to buy on dips around $2958-60 with a stop loss around $2700 for target profits of $3540/$3600.