empty
 
 
10.03.2021 12:01 PM
Ethereum More Gains Expected!

Ethereum is trading in the green on the H4 chart at the time of writing. It has managed to jump above a dynamic resistance confirming further growth. ETH/USD should approach and reach new highs if Bitcoin continues to increase.

ETH/USD trades at 1,836 above the uptrend line, so the outlook remains bullish. The crypto was into a temporary corrective phase which is complete. Technically and fundamentally, the price could resume its major uptrend.

ETH/USD Strong Buyers!

This image is no longer relevant

ETH/USD passed above the fifth warning line (WL5) which represented a dynamic resistance. It has tried to retes the broken WL5 but without success as the buyers are very strong in the short term.

The price flirts with the R1 (1,836) again. Closing above this static resistance and beyond 1,879 today's high could represent a long signal. The bullish bias remains intact as long as it stays above the 1,700 and above the uptrend line.

Ethereum Forecast!

Jumping and closing above 1,900 psychological level signal further increase far above 2,040 all-time high. WL6 and the R3 (2,157) could be used as first upside targets.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback