For Traders

Analytical Reviews

Crypto-currencies

05.08.202218:24 Forex Analysis & Reviews: Ethereum respects channel support.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Black lines- bullish channel

Ethereum is trading around $1,673. Price touched again the lower channel boundary it is in and is now bouncing higher. Today's low at $1,581 is important as a break below it will push price outside of the bullish channel. Ethereum continues making higher highs and higher lows. Respecting $1,581 is key for the continuation of the up trend. As long as Ethereum is trading above $1,580, we expect price to continue higher towards $1,900-$1,975.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2024

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade