empty
 
 
01.03.2024 03:25 PM
Trading Signals for Ethereum (ETH/USD) on March 1-15, 2024: sell below $3,500 (5/8 Murray - overbought)

This image is no longer relevant

Early in the American session, ETH/USD is trading around 3,428.28 with a strong uptrend as seen on the weekly chart.

ETH reached a high of $3,517. This is a psychological level which also coincides with the 2,021 resistance levels. Therefore, it is likely that Ether will make a strong technical correction in the coming days with the target at 5/8 Murray (3,125). The token could even reach the top of the uptrend channel which was broken around the psychological level of $3,000.

ETH has a strong resistance at 6/8 of Murray around 3,750. If Ether extends its uptrend in the next few days, we could expect it to reach this area. It could be a good point to sell because the token is strongly overbought according to the daily and 4-hour charts.

In case ETH falls below the psychological level of 3,500, the correction will likely continue until the price reaches the psychological level of $3,000. Once this level is broken. ETH could continue its fall towards 4/8 Murray which represents the pivot point. From this level, it could resume its bullish cycle.

Our trading plan for the next few days according to the weekly chart will be to sell Ether below 3,500, with targets at 3,291, 3,125, and the psychological level of $3,000.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback