ETHUSD trades flat after a massive sell-off. It hits an intraday high of $2834 and is currently trading around $2820.
Oscillators and moving averages to forecast the trend of ETHUSD
CMP- $2821.20
EMA (1-hour chart)
55-EMA- $2859
200-EMA- $2932
365-EMA- $2995. The pair trades below short and below long-term moving average.
Major Support - $2600. Any breach below $2960 will drag the pair down to $2500/$2300/$2000.
Major Resistance - $3000. Any break above $3100 confirms minor bullishness, a jump to $3200/$3320/$3458/$3565/$3700/$4000.
Indicators (1-hour chart)
CCI(50)- Bearish
ADX- Neutral
Investment Strategy for ETHUSD
It is good to buy on dips around $2748-50 with a stop loss around $2600 for target profits of $3540/$3600.
