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Ethereum Under Pressure: Is the USD 2200 Support the Ultimate Buy Zone?

 

ETHUSD trades below $2300 following the footsteps of BTC. It touched an intraday low of $2232 and is currently trading at approximately $2253.

 

Technicals

CMP -$2253

Trend

4- Hour chart

Value

 

 

55 EMA

$2306

CMP<55 EMA

Bearish

200- EMA

$2289

CMP <200- EMA

Bearish

365- EMA

$2274.90

CMP <365 EMA

Bearish

 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)

Bearish

-135.90

ADX

Neutral

Strength increased from 24.59 to 29.51

 

It is good to buy on dips around $2200 with SL around $2000 for a TP of $2770.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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