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ETHUSD Technical Analysis - ETHUSD Trading: 2022-07-19
ETHUSD Technical Analysis Summary
Above 1490
Buy Stop
Below 960
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Bollinger Bands | Buy |
ETHUSD Chart Analysis
ETHUSD Technical Analysis
On the daily timeframe, ETHUSD: D1 has exceeded the downtrend resistance line. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if ETHUSD: D1 rises above its latest high: 1490. This level can be used as an entry point. The initial risk limit is possible below the Parabolic signal, the last lower fractal and the lower Bollinger band: 960. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders after making a trade can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (960) without activating the order (1490), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Crypto - ETHUSD
A representative of the Ethereum Foundation announced plans to merge mining protocols. Will ETHUSD quotes continue to rise?
On September 19, 2022, developers of the Ethereum cryptocurrency can merge (Merge) the current proof-of-work (PoW) mining protocol and the more economical proof-of-stake (PoS). The merger procedure will be indefinite. It should contribute to a significant reduction in the cost of electricity for mining and make Ethereum more secure and attractive to use. Note that the final date may be adjusted depending on the success of a number of preparatory activities. As we can already see, crypto market participants positively assessed the plans of the developers, which were announced last Thursday, July 14th. Theoretically, August 11th could be a significant date for ETHUSD quotes, when the transition to PoS of the Goerli test network (Ethereum test network) is not ruled out. After that, an Ethereum Developers Meeting is scheduled to be held on August 18th.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
