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ETH Under Pressure: Can the $2,200 Support Spark a Rebound to $2,700?

ETHUSD declined slightly following the footsteps of BTC. It reached an intraday low of $2237 and is currently trading at approximately $2252.

 

Technicals

CMP -$2252

Trend

4- Hour chart

Value

 

 

55 EMA

$2298

CMP<55 EMA

Bearish

200- EMA

$2288

CMP <200- EMA

Bearish

365- EMA

$2274

CMP <365 EMA

Bearish

 Major support- $2200/$1700/$1500. Minor bullishness only above $2500. Any violation above targets $2770/$2880/$3000.

 

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bearish

-121.74

ADX

Neutral

 

 

It is good to buy on dips around $2200 with SL around $2200 for a TP of $2770.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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