You are here: Home > articles > Forex > Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray)
Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray)
April 17, 2024 3:25 pmVideo
Latest News
- Technical Analysis – GBPCAD hits a wall but bulls not ready to give up April 17, 2024
- Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray) April 17, 2024
- Analysis for the EUR/USD pair on April 17th. Jerome Powell didn’t help the dollar much April 17, 2024
- Analysis for GBP/USD pair on April 17th. British inflation overtakes American inflation April 17, 2024
- USD/JPY: Simple Trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- EUR/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURUSD takes a breather after sharp tumble April 17, 2024
- Market continues to price in a plethora of rate cuts for 2024 – Special Report April 17, 2024
- EUR/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURGBP maintains bearish bias amid pennant formation April 17, 2024
- EUR/USD. April 17th. Jerome Powell supports the dollar April 17, 2024
- GBP/USD. April 17th. Inflation in Britain is falling, but not as much as the market wants April 17, 2024
- Tesla Q1 Earnings: Poor deliveries point to disappointing results – Stock Markets April 17, 2024
- Video market update for April 17, 2024 April 17, 2024
- Forex forecast 04/17/2024: EUR/USD, GBP/USD, Gold, Bitcoin and Ethereum from Sebastian Seliga April 17, 2024
- Technical Analysis – Gold struggles to jump above 2,400 April 17, 2024
- GBP/USD: trading tips for beginners for European session on April 17 April 17, 2024
- EUR/USD: trading tips for beginners for European session on April 17 April 17, 2024
ETH/USD is trading around 3,046.92, below the 21 SMA, and inside the downtrend channel forming since late March. Ether could continue its fall as it comes under bearish pressure and is likely to find immediate support around 1/8 Murray located at 2,812.
Technically, it is approaching an oversold zone. If a bounce occurs around 2,800, it could be seen as a signal to buy with the target at 3,700.
On the other hand, if ETH/USD breaks and consolidates above 2/8 Murray and above the 21 SMA, the bearish outlook could change and we could expect more gains in Ether and it could reach the 200 EMA located at 3,370.
A breakout of the bearish trend channel as well as consolidation above the 200 EMA and 3,400 will be seen as a signal to buy. So, we could expect 4/8 Murray to be reached at 3,750 and the crypto could finally reach the psychological level of $4,000.
Our trading plan for the next few hours is to sell ETH/USD below 3,100. As long as it trades below the 21 SMA, the token will remain under bearish pressure. For a consolidation above 3,150, we should avoid selling or wait for a confirmation for a technical rebound.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: