ETH / USD emotion blijft construction: Sally Ho Technical Analysis August 4, 2021 ETH

Ethereum (ETH / USD) benefited from an improved risk profile at the start of the Asian session as traders sought to add to the recent growth the pair have seen, eclipsing a psychologically significant 2500 figure for the first time in a few weeks.  The recent buying pressure, close to 2422.31, tested a 38.2% correction of the last December increase range from 2317.51 to 2484.  ETH / USD posted a 7.3% gain in July, boosting earnings by more than 232% year-on-year. 

October-October-October-October-October-October 2631.60, 2657.89, 2725.47, 2742.76, 2913.68, 3042.22, and level 3056.22.  After rising to multi-week highs, price correction levels are down and in the regions of 2333.53, 2303.32, 2191,54, 2041.42 and 2000.49.  Traders note that the 50-bar average (4 hours) is rising above the 100-bar average (4 hours) and above the 200-bar average (4 hours).  In October, 50 bars average (per hour) rises above 100 bars average (per hour) and 200 bars average (per hour).

The nearest 50 bar average (4 hours) mark is 2268.66 and the 50 bar average (hours) mark is 2394.04.

Technical support is expected in the region 1700/ 1633.51/ 1456.03 you’d expect that to happen with the stops below.

Technical resistance expected to be close 3122.22/ 3420.10/ 3788.66 with stops expected above.

On the 4-hour chart, SlowK declines below slow, while the MACD rises above the Macda average.

On the 60-minute chart, SlowK is below the slow one, while MACD is below the Macda average.

                                                                                                                                                                     

DISCLAIMER: This trade analysis is provided by a third party and is for informational purposes only. It does not reflect Crypto Daily’s opinion and is not intended to be used as legal, tax, investment or financial advice.

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