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Following the G7 discussion of the combined release of emergency oil reserves, ETHUSD increased somewhat above $2000 as the oil price dropped more than $10. After dipping to $1911 yesterday, the couple trades close to $2002.88.
|
Technicals |
CMP -$2000 |
Trend |
|
|
4- Hour chart |
Value |
|
|
|
55 EMA |
$1995 |
CMP > 55 EMA |
Bullish |
|
200- EMA |
$2112 |
CMP < 200- EMA |
Bearish |
|
365- EMA |
$2334 |
CMP <365 EMA |
Bearish |
Major support- $1700/$1500. Minor bullishness only above $2200. Any violation above targets $2300/$2380/$2500.
|
Momentum indicator (1-hour chart) |
Inference |
Value |
|
CCI(50) |
Bearish |
-17.49 |
|
ADX |
Neutral |
|
It is good to buy on dips around $2000 with SL around $1900 for a TP of $2380/$2500.
