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Ethereum’s $1907 Bounce Wilts – Sell the $2048–2050 Rally for $1500

 

ETHUSD showed a minor pullback from temporary bottom $65720 made yesterday.  It hits an intraday high of $68233 and is currently trading around $68019.

 

 

Technicals

CMP -$1993

Trend

1- Hour chart

Value

 

 

55 EMA

$1986

CMP > 55 EMA

Bullish

200- EMA

$2097

CMP is less than 200- EMA

Bearish

365- EMA

$2263

CMP < Value

Bearish

 

In the 4- hour chart, the pair is trading well below short-term - $2118 (55-EMA) and long-term-  $2784 (365- EMA) and  $2554 (200-EMA).

 

Major support- $1900/$1700/$1470/$1380. Minor bullishness only above $2270.

 

Momentum indicator (1-hour chart)

Inference

Value

CCI(50)

Bullish

21.51

ADX

Bullish

Strength - 17.67. It should cross  above 20 level for bullish trend confirmation

 

It is good to sell on rallies around $2048-50 with SL around $2270 for a TP of $1500.

 

 

 

 

 

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