empty
 
 
18.07.2019 07:45 AM
Technical analysis of ETH/USD for 18/07/2019:

Crypto Industry News:

The cryptocurrency exchange in the United States - Coinbase - suddenly imposed a minimum UK £ 1,000 deposit on account holders in the UK, which was confirmed by the company's staff in private e-mails.

Coinbase, which previously allowed UK users to deposit funds through the national Faster Payments payment system, has now suspended the service. Instead, users must use the standard international transfer option by sending funds via SWIFT, subject to a minimum payment of £ 1,000.

Coinbase support staff did not disclose in the e-mails the reasons for this sudden change, which ends the agreement in force since August last year

SWIFT payments usually last up to five business days, which in Great Britain gives you ten days' delay in making a deposit. This problem causes further complications for UK users seeking legal access to cryptocurrency markets.

Technical Market Overview:

The ETH/USD pair has bounced towards the level of $226.17 after the technical support located at the level of $190.94 has held the bearish pressure. The downward momentum is decreasing, so there is a chance for another leg up towards $226.17 or even $244.63. Please notice, that according to the Elliott wave count, the corrective cycle in the wave 2 might have been completed and the market is ready for another impulsive wave up.

Weekly Pivot Points:

WR3 - $421.78

WR2 - $368.25

WR1 - $298.00

Weekly Pivot - $241.50

WS1 - $169.20

WS2 - $118.90

WS3 - $41.01

Trading recommendations:

The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are being treated as a correction inside of the uptrend. The current cycle is wave 2 of the higher degree and it might have been completed, so the uptrend should resume soon.

This image is no longer relevant

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 $8000 more!
    In March we raffle $8000 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