Technical Analysis of ETH/USD for August 15, 2023
August 15, 2023 9:28 amVideo
Latest News
- Forecast for EUR/USD on April 19, 2024 April 19, 2024
- Forecast for GBP/USD on April 19, 2024 April 19, 2024
- Forecast for USD/JPY on April 19, 2024 April 19, 2024
- Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024. April 19, 2024
- Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 19 2024. April 19, 2024
- Michelle Bowman reiterated Jerome Powell’s opinion April 19, 2024
- The ECB has finally made up its mind April 19, 2024
- The dollar is in control April 19, 2024
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
Crypto Industry News:
A Chinese citizen was convicted by the People’s Prosecutor’s Office of the Fuzhou City Prefecture of Mawei County on charges of concealing the crime of buying USDT (Tether) stablecoin worth 94,988 yuan.
In February 2022, a man referred to by local media as “Mr. Chen” contacted his acquaintance Mr. Lin. It was then that Mr. Chen published his bank card details on the popular Chinese social network WeChat. Mr. Chen then received seven fiat yuan transfers from Mr. Lin, which he used to purchase USDT. The stablecoins were then sent back to Mr. Lin. As a result of this operation, Mr. Chen earned 147.1 yuan (equivalent to $20.26).
“Scammers use virtual currency to transfer and launder stolen money. This type of online money laundering in the name of buying virtual currency, knowing that others are using the information network to commit crimes and assist them, was a violation of the law,” the statement published by the Fuzhou Mawei People’s Prosecutor’s Office reads.
Ultimately, the prosecution decided to sentence Mr. Chen to nine months in prison. This penalty was deferred for one year. The accused was also fined 5,000 Yuan (equivalent to $689).
Technical Market Outlook:
The ETH/USD pair has made a new local high at the level of $1,874 and then pulled-back towards more than 38% towards the moving average located at the level of $1,841.The volatility is now subdued, so the price keeps oscillating around the moving average located at the level of $1,850. The next target for bears is the 61% retracement level located at $1,828. The next intraday technical resistance is seen at the level of $1,888 and $1,903. The market conditions are neutral on the H4 time frame chart as the RSI is approaching the level of fifty. Only a sustained breakout back below the last local high would change the outlook back to bullish.
Weekly Pivot Points:
WR3 – $1,874
WR2 – $1,857
WR1 – $1,850
Weekly Pivot – $1,841
WS1 – $1,834
WS2 – $1,824
WS3 – $1,808
Trading Outlook:
The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. This is the key level for bulls, so it needs to be broken in order to continue the up trend. The key technical support is seen at $1,368, so as long as the market trades above this level, the outlook remains bullish.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: