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Ethereum Pullback: ETHUSD Tests Support After Mirroring Bitcoin’s Profit-Booking

ETHUSD showed minor profit-booking, following in the footsteps of BTC. It touched a high of $2424 yesterday and is currently trading at approximately $2334.

 

Technicals

CMP -$2415

Trend

4- Hour chart

Value

 

 

55 EMA

$2334.76

CMP<55 EMA

Bearish

200- EMA

$2281

CMP >200- EMA

Bullish

365- EMA

$2267

CMP >365 EMA

Bullish

 Major support- $2200/$1700/$1500. Minor bullishness only above $2500. Any violation above targets $2770/$2880/$3000.

 

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bullish

28.37

ADX

Bullish

 

 

It is good to buy on dips around $2300, with an SL around $2200, for a TP of $2770.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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