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Technical Analysis
Video | Market Technical | Solid ECN
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[QUOTE="SOLIDECN, post: 211070, member: 80239"] [JUSTIFY]The ETHUSD pair continues to trade within a wide long-term downward channel. However, over the past two weeks, the cryptocurrency has shown significant growth, adding about 66%, and consolidated at 1660. However, the quotes failed to stay in this area and resumed the decline. For the development of downward dynamics, the digital asset needs to fall below the support zone of 1375 − 1345 (the middle line of Bollinger bands). In this case, the downside targets will be 1250 and 1125, and 1000. The key “bullish” level is 1625, the breakout of which will allow quotes to continue moving to the area of 1750, 1885 Fibonacci correction 38.2%). [img]https://i.ibb.co/25kNgp8/eth.png[/img] Technical indicators do not give a single signal: Bollinger bands are directed upwards, Stochastic reversed downwards, while the MACD histogram is stable in the positive zone. Given the long-term trend, a continuation of the price decline soon seems to be a more likely scenario. [B]Resistance levels[/B]: 1500, 1625, 1750, 1885 | [B]Support levels[/B]: 1345, 1250, 1125, 1000[/JUSTIFY] [/QUOTE]
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