empty
01.02.2024 04:14 PM
Trading Signals for Ethereum (ETH/USD) on February 1-3, 2024: sell below $2,300 (21 SMA - 200 EMA)

This image is no longer relevant

Early in the American session, ETH/USD is trading around 2263.72, below the 200 EMA, and below the 21 SMA. We can see that Ether sharply broke the bullish trend channel formed since January 24 and is now consolidating below 7/8 Murray. It is likely that ETH could continue its fall in the coming days and could reach 6/8 Murray at 2,187. If bearish pressure prevails, ETH could reach the psychological level of $2,000.

In case Ether tries to return above 2,333, the price could face strong resistance because the 200 EMA is located there which acts as a solid barrier. Below there, the token could come under strong downward pressure that will be seen as an opportunity to sell.

A daily consolidation above 2,350 could favor the recovery of ETH/USD and it could reach 8/8 Murray around the psychological level of 2,500.

The outlook remains negative for Ether as long as it trades below 2,343. Any technical bounce towards this area will be seen as an opportunity to sell. Technically, the eagle indicator is giving a negative signal and a drop in ETH/USD will likely occur in the coming days.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

Recommended Stories

Forecast for EUR/USD on April 14, 2025

On Friday, the EUR/USD pair continued to rise but pulled back in the second half of the day. The decline (i.e., dollar strengthening) was short-lived

Samir Klishi 12:28 2025-04-14 UTC+2

Forecast for GBP/USD on April 14, 2025

On the hourly chart, the GBP/USD pair continued its upward movement on Friday and today is on track to reach the 1.3151 level. A bounce from this level will favor

Samir Klishi 12:25 2025-04-14 UTC+2

Technical Analysis of Intraday Price Movement of Crude Oil Commodity Instrument, Monday April 24, 2025.

On the 4-hour chart of the Crude Oil commodity instrument, the Inverted Head & Shoulders pattern and Bullish Pattern 123 and Divergence between the #CL price movement and the Stochastic

Arief Makmur 07:19 2025-04-14 UTC+2

Technical Analysis of Intraday Price Movement of Palladium vs USD Commodity Instrument, Monday April 24, 2025.

With the appearance of Divergence from the Stochastic Oscillator indicator with the XPD/USD price movement on its 4-hour chart and the appearance of a Bullish 123 pattern followed

Arief Makmur 07:19 2025-04-14 UTC+2

#SPX – Summary and Outlook

Last week, even though there was a bearish gap, bullish players were able to reclaim their ground effectively. The market is now approaching the point where it may eliminate

Evangelos Poulakis 00:58 2025-04-14 UTC+2

Trading Signals for EUR/USD for April 11-15, 2025: sell below 1.1470 (+2/8 Murray - overbought)

During the European session, the euro reached a new high around +2/8 Murray, located at 1.1473. This movement in EUR/USD occurred after the announcement by China's Ministry of Finance that

Dimitrios Zappas 16:44 2025-04-11 UTC+2

Trading Signals for GOLD (XAU/USD) for April 11-13, 2025: sell below $3,235 (+1/8 Murray - overbought)

Early in the American session, gold is undergoing a strong technical correction after reaching a new high around 3,237.69 for now. Economic data from the United States will be released

Dimitrios Zappas 16:04 2025-04-11 UTC+2

EUR/USD – April 11th. The Dollar's Decline Shows No Sign of Stopping

On Thursday, the EUR/USD pair spent the entire day in an upward move, gaining 400 points and approaching the 261.8% Fibonacci corrective level at 1.1318. A rebound from this level

Samir Klishi 12:36 2025-04-11 UTC+2

Forecast for GBP/USD on April 11, 2025

On the hourly chart, the GBP/USD pair continued its upward movement on Thursday and secured a position above the 127.2% corrective level at 1.3003 – by Friday morning. This suggests

Samir Klishi 12:32 2025-04-11 UTC+2

Forex forecast 11/04/2025: EUR/USD, GBP/USD, SP500, NASDAQ, and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 09:52 2025-04-11 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.