Ethereum price action has retraced higher price levels after it rebounded off the lowest band of the Bollinger indicator. And, now signs coming from trading indicators are predicting that this crypto may attain higher resistance.
ETH Forecast Statistics Data:
ETH current price: $1580.60
ETH market cap: $195.43 billion
ETH circulating supply: 122.25 million
ETH total supply: 122.25 million
ETH Coinmarketcap ranking: #2
To that effect, we shall examine the ETH/USD and the ETH/BTC market as well. Through our observations we’ll deduct how to best approach this market, both to maximize profit.
Important Levels:
Resistance levels: $1581, $1600, $1680
Support levels: $1500, $1450, $1400
Ethereum May Trend Upwards, Tamadoge to Pump Furiously
Examining the ETH/USD 24 hours price chart, one can easily see price candles rising steadily towards the MA of the Bollinger. Currently, we can see the last candle testing the middle band as resistance. Also, the Bollinger is attempting to align horizontally. Additionally, the line of the MACD indicator is also about to cross each other in the negative region. When the lines eventually cross this will signal further Upside Correction in this market. Consequently, this will cause the price candle to break the Bollinger MA towards the upside. Traders should place an entry just above the middle line of the Bollinger as the price may reach $1700 or $1800 soon.
Ethereum Value Analysis: ETH/BTC Value to Push Higher Resistance
The ETH/BTC market is experiencing a significant upside value trend. Also, trading indicators are pointing to the fact that more upside movements may be seen in this market. Here we can see that value has retracted above the middle band of the Bollinger indicator. And, this point that value action is positioned where it could find more steam to reach higher.
Your capital is at risk
Furthermore, the MACD indicator has crossed in the positive direction. Interestingly instead for a downtrend to be initiated, this Indicator is signaling that more upward value gain will be experienced. This is seen as the crossed MACD lines are still facing upwards in the positive region. Therefore, the value of the Ethereum versus Bitcoin pair will retrace higher. Therefore Traders in this market can execute a buy order straight away.
Tamadoge presale shows plenty of appetite for quality crypto games projects
Tamadoge’s fundraising success is testament to the fact that there is still plenty of appetite among crypto investors for quality products. The nascent project has now beaten the fundraising of STEPN, which raised $9.2 million from investors including FTX. Tamadoge is on track to surpass the success of the move to earn app.
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