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Ichimoku analysis (4-Hourly chart)
Tenken-Sen- $2024
Kijun-Sen- $2040
ETHUSD is trading higher for the second consecutive days and surged more than $150.The pair was one of the best performers this year and surged nearly 150%. Short term trend of this pair is bullish as long as support $1910 holds. It hits an intraday high of $2100 and is currently trading around $2078.
On the lower side, ETHUSD is facing strong support around $1910 (38.2% fib) and any violation below will drag the pair down to $1838-49 (200- 4H MA)/$1761.
The near-term resistance is at $2155, any indicative break above targets $2295/$2500.Significant trend continuation only if it closes above $2000.
Ichimoku Analysis- The pair is trading well above 4-hour Kijun-Sen, Tenken-Sen, and cloud. This confirms minor bullishness.
Indicator (4 Hour chart)
CAM indicator –neutral
Directional movement index –neutral
It is good to buy on dip around $2000 with SL around $1910 for TP of $2295.
