empty
 
 
30.01.2023 11:35 AM
Ethereum: 1,676 key level

Ethereum stays higher and it seems determined to approach and reach new highs. It's trading at 1,628 at the time of writing and it could move somehow sideways in the short term. The bias remains bullish, further growth is favored.

ETH/USD dropped a little today but it's still up by 1.82% in the last 24 hours. The altcoin retreated as the BTC/USD slipped lower.

ETH/USD Strong Upside Pressure!

This image is no longer relevant

ETH/USD is trapped between the 1,676 and 1,506 levels. The upper median line (uml) represents a dynamic resistance. Technically, the bias remains bullish as long as it stays above the median line (ml) and above 1,506.

The upper median line (uml) and 1,676 represent upside obstacles. In the short term, the rate could test and retest the near-term support levels before jumping higher.

ETH/USD Outlook!

Ethereum could extend its growth after making a valid breakout through 1,676. This is seen as a bullish opportunity.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
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 $1000 more!
    In April we raffle $1000 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