Baxia Markets
By
January 19, 2022

ETH is down 7.25%

technical analysis top header -01

The cryptocurrency started to gain some ground on previous sessions but went back down before attempting a resistance breakout. The price might find support at the low $3,000 levels. Our parabolic SAR suggests that the price will start an uptrend soon, but we don't see enough technical elements to consider this prediction.

 

The Bollinger bands are opening, but they are starting to move downwards which is often a short signal. The pair trades below the short and long-term moving averages, which strengthens the downtrend prediction.

 

ETH Jan 18th 2022

 

The relative strength index is at 35%, this will allow Ethereum to fall a bit more before it can regain some ground against the USD. Once the pair enters an oversold status, we would likely see many traders placing Long positions which will raise the price in the mid-term.

 

We love to hear new ideas from traders and want to know what you think! 

 

If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

 

Open Live Account  

 

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

 

Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

cryptocurrency, trading conditions, technical analysis, trading indicator

Subscribe by Email