empty
 
 
04.02.2020 09:20 AM
Technical analysis of ETH/USD for 04/02/2020:

Crypto Industry News:

The Japanese social network Line, the largest in the country, announced the introduction of the digital currency "Link" on the Japanese market planned for April. The token was previously available in all countries except Japan and the United States.

Line first used Blockchain in early 2018 when it announced plans to launch the cryptocurrency exchange in its Chat application.

After long negotiations with Japanese regulators, Line launched the Bitbox stock exchange in July 2018, but outside of its application, excluding Japanese and American users. In October 2018, Line launched the Link cryptocurrency and put it on Bitbox along with the initial trading pairs with Bitcoin, Ethereum and Tether. However, the token was still not available on the Japanese domestic market, which Line initially intended to operate.

Since its international premiere, LVC - a subsidiary of Line operating in the field of digital currency and Blockchain - has prepared itself to introduce coins to the Japanese market. It was associated with cooperation with the Japan Virtual Currency Exchange Association (JVCEA), which has a preparation process for introducing new digital currencies.

LVC is currently preparing the system for Link's Japanese debut, the exact date of which will be announced in due time. Placing Link on the Bitmax cryptocurrency exchange is also planned, although details are still being finalized.

Technical Market Overview:

The ETH/USD pair has been trading around the recent high made at the level of $193.52 at the top of the ascending channel upper line, but recently the bears have managed to push it a little lower towards the level of $185.37 which is technical support for the price close to the lower channel line. The momentum has decreased already, so the odds for the move lower are high now. Any violation of the level of $185.37 will open the road towards the next target for bears located at the level of $178.25- $176.95.

Weekly Pivot Points:

WR3 - $231.75

WR2 - $211.10

WR1 - $202.50

Weekly Pivot - $183.58

WS1 - $174.98

WS2 - $155.68

WS3 - $147.65

Trading Recommendations:

There is a possibility that the wave 2 corrective cycles are completed at the level of $115.05, so the market might be ready for another impulsive wave up of a higher degree and uptrend continuation. This strategy is valid as long as the level of $146.94 is not violated. Nevertheless, the larger timeframe trend is still down and all the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend until the level of $196.61 is clearly broken.

This image is no longer relevant

Sebastian Seliga,
InstaForex के विश्लेषणात्मक विशेषज्ञ
© 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.
    कॉन्टेस्ट में हिस्सा लें
  • चैन्सी डिपॉजिट
    $ 3,000 के साथ अपना खाता जमा करें और प्राप्त करें $8000 अधिक!
    में मार्च हम आकर्षित करते हैं $8000 चैंसी डिपॉज़िट में
    ट्रेडिंग अकाउंट में $ 3,000 जमा करके जीतने का अवसर प्राप्त करें इस शर्त को पूरा करके आप प्रतियोगिता में भाग ले सकते हैं
    कॉन्टेस्ट में हिस्सा लें
  • ट्रेड वाइज़, विन डिवाइस
    कम से कम $500 के साथ अपने खाते में टॉप अप करें, कॉन्टेस्ट के लिए साइन अप करें और मोबाइल डिवाइस जीतने का मौका पाएं।
    कॉन्टेस्ट में हिस्सा लें
  • 100% बोनस
    अपनी जमा राशि पर 100% बोनस प्राप्त करने का आपका अनूठा अवसर
    बोनस पायें
  • 55% बोनस
    अपनी प्रत्येक डिपॉजिट पर 55% बोनस के लिए आवेदन करें
    बोनस पायें
  • 30% बोनस
    हर बार खाता टॉप अप करने पर 30% बोनस प्राप्त करें
    बोनस पायें

अनुशंसित लेख

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.
Widget callback