Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

FxWirePro: ETH/USD finds support near 20-DMA, good to go short on break below

ETH/USD plunged to 980 levels mirroring the drop in other cryptocurrencies including bitcoin. It is currently trading at 1054 levels at the time of writing (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 1280.45

Kijun-Sen: 1053.44

On the upside, resistance is seen at 1113 (3h 100-SMA) and a break above would see it testing 1201 (2h 100-SMA)/1262 (5-DMA). Further strength would target 1301 (2h 50-SMA)/1366 (January 10 high)/1400.

On the downside, the pair has found support near 1009 (20-DMA) and any violation would drag it to 925 (61.8% retracement of 512 and 1594)/900. Further weakness would target 863 (4h 200-SMA)/795 (55-EMA)/752 (50-DMA).

Momentum studies: On the daily chart, RSI and stochs have rolled over from overbought levels and MACD appears to be on the verge of a bearish crossover. 20-DMA is a major support for the pair and a break below would confirm further downside.

Recommendation: Good to go short on break below 1009. SL: 1200. TP: 925/900/863.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

November 16 21:00 UTC Released

UST Flows,Incl.Swaps

Actual

16.7 Bln USD

Forecast

Previous

111.5 Bln USD

November 16 21:00 UTC Released

USOverall Net Capital Flows

Actual

-29.1 Bln USD

Forecast

Previous

108.2 Bln USD

January 31 00:00 UTC 419399419399m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 419399419399m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 431219431219m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 419399419399m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 431219431219m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 419399419399m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 419399419399m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 419399419399m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.