CCI & ADX Screaming Bullish – Is Ethereum About to Explode Higher?

Following a significant sell-off from a temporary top of $4955, ETHUSD trades above $3000. Currently trading at $3055, it reached an intraday high of $3075.

Oscillators and moving averages to forecast the trend of ETHUSD

CMP- $3055

EMA (4-hour chart)

55-EMA- $3021

200-EMA- $3000

365-EMA- $2969. The pair trades above short and below long term moving average.

Major Support - $2960. Any breach below $2960 will drag the pair down to $2899/$2855/$2800/$2740/$2600/$2500/$2300.

Major Resistance - $3075.  Any break above $3075 confirms minor bullishness, a jump to $3200/$3320/$3458/$3565/$3700/$4000.

Indicators (15-min chart)

CCI(50)- Bullish

ADX-  Bullish

5. Investment Strategy for ETHUSD

It is good to buy on dips around $2978-80 with a stop loss around $2740 for target profits of $3540/$3600.