For Traders

Analytical Reviews

Crypto-currencies

18.08.202223:48 Forex Analysis & Reviews: Ethereum analysis for August 18th, 2022.

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.

Red lines- bullish channel

Ethereum is trading around $1,870. Trend remains bullish as price continues making higher highs and higher lows while at the same time respecting the bullish channel boundaries. Price is right on top of the lower channel boundary. Support is critical at $1,830-$1,840. A break below this level would be a bearish signal. A pull back and exit out of the bullish channel is justified at current levels, so bulls need to be very cautious if $1,830 fails to hold. As long as this support holds, the upside potential for Ethereum is towards $2,020.

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