It was a bearish day for the major cryptos on Thursday. But Ethereum is performing fairly well despite the recent heavy losses seen across the broader cryptocurrency market this week. However, continued gains above the $180.00 level are now needed for rally towards $ 190 and to the top at 197.64 of the ETHUSD pair’s short-term trading range.
Looking downside, an important support area is created by 50-day SMA at $180.36. If we see a clear break there, the sell-off is likely to gain traction with the next focus on psychological $180.00 and $177.40 (the lower boundary of the recent consolidation channel).
Ethereum’s Bollinger Bands are currently incredibly tight, which could signal that a massive price movement is imminent.
In what direction is your trading?
Looking downside, an important support area is created by 50-day SMA at $180.36. If we see a clear break there, the sell-off is likely to gain traction with the next focus on psychological $180.00 and $177.40 (the lower boundary of the recent consolidation channel).
Ethereum’s Bollinger Bands are currently incredibly tight, which could signal that a massive price movement is imminent.
In what direction is your trading?
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✅ JOIN FREE TELEGRAM: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.