American session, date: 07/18/2024
Introduction and overview
In recent days, the cryptocurrency Ethereum (ETH/USD) has seen a slowdown in trading, with its price ranging between $3,384 and $3,500. Currently, Ethereum is trading at $3,464. In this technical analysis we will provide an in-depth look at the current price action, focusing on key technical indicators that hint at possible trends in the markets. Technical indicators indicate that Ethereum price is trading above most of the moving averages, indicating a strong uptrend. In addition, the MACD indicator shows strength in the upward trend, which reinforces the positive expectations regarding the price continuing to rise in the coming period.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 3500 | 3435 |
| Target Point 1 (TP1) | First resistance: 3550 | First support: 3384 |
| Target Point 2 (TP2) | Second resistance: 3600 | Second support: 3335 |
| Stop Loss (SL) | 3435 | 3500 |
Conclusion
In conclusion, Ethereum’s stability in the price area between $3,384 and $3,500 reflects optimism among traders, while maintaining a strong upward trend supported by positive technical indicators. Market followers should monitor vital support and resistance levels to understand market developments and make investment decisions wisely according to technical analyzes and fundamental factors surrounding the market.
