Ethereum (ETHUSD) Technical Analysis: Bearish trend

American session, date: 7/5/2024

Introduction and overview

In this technical analysis, we will study the performance of Ethereum by reviewing the main price trends, important technical levels, and current trading patterns. We will use a set of technical tools and indicators to provide a comprehensive and in-depth view of Ethereum’s market movement. Ethereum is currently trading at $2939 per ounce. Prices are trading below most moving average crossovers, to. The MACD indicator is showing a weak negative trend


Trading strategies based on Buy/Sell levels

XAUUSD In case of buying           in case of selling
Entry point 3078 2874
Target Point 1 (TP1) First resistance: 3148 First support: 2756
Target Point 2 (TP2) Second resistance: 3188 Second support: 2731
Stop Loss (SL) 2874 3078



These strategies are based on determining the price’s location relative to support and resistance levels, and suggest the best ways to profit from price movements based on these indicators. Traders should carefully monitor these levels to identify optimal opportunities to enter and exit the market, while adhering to appropriate risk management strategies to protect their investments.

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