Technical Analysis of Daily Price Movement of Ethereum Cryptocurrency, Friday September 08, 2023.
September 8, 2023 7:25 am
If we look at the daily chart of the Ethereum cryptocurrency, it can be seen that its price movement is stuck in the Demand (Cyan) area. Apart from that, the Stochastic Oscillator indicator also confirms that there will be an increase in upward momentum in the near future so that if in the next few days Ethereum succeeds in testing and breaking through above level 1744.34 then this cryptocurrency has the potential to continue its strengthening to rally upwards to level 1877.90 and the level of the Bearish Fair Value Gap area (Pink) as the next target, but if on its way to the previously mentioned target levels it arrives -Suddenly there is a downward correction that penetrates below the 1545.65 level, then the strengthening scenario described previously will become invalid and cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
If we look at the daily chart of the Ethereum cryptocurrency, it can be seen that its price movement is stuck in the Demand (Cyan) area. Apart from that, the Stochastic Oscillator indicator also confirms that there will be an increase in upward momentum in the near future so that if in the next few days Ethereum succeeds in testing and breaking through above level 1744.34 then this cryptocurrency has the potential to continue its strengthening to rally upwards to level 1877.90 and the level of the Bearish Fair Value Gap area (Pink) as the next target, but if on its way to the previously mentioned target levels it arrives -Suddenly there is a downward correction that penetrates below the 1545.65 level, then the strengthening scenario described previously will become invalid and cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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