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ETH-USDT: Technical Pullback, Is Short Term Lows Confirmed?

Cryptocurrency
Buy ETH-USDT
End Time
CLOSED

1130.64

ENTRY PRICE

1300.00

TGT PRICE

1050.00

SL PRICE

1591.15 +16.03 +1.01%

3215

Points

Profit

1050.00

SL PRICE

1162.79

CLOSING

1130.64

ENTRY PRICE

1300.00

TGT PRICE

Hot Spots

1. The G20 Bali Leaders' Declaration calling for a global crypto regulatory framework.
2. Data showing that: BTC long-term holders' losses are close to that of the 2015 bear market and have surpassed the 2018 bear market.
3. US President Joe Biden's call to implement stricter global cryptocurrency regulation.

Sentiment

The Cryptocurrency Fear/Greed Index is 21 at the moment and is Extreme Fear.Yesterday and the day before were 24 and 23 respectively. The fear level is unchanged and the rating remains at extreme fear.The market pulled SNM up nearly 40 times over the weekend, typical of the market's lack of willingness to trade and stimulate market sentiment by pulling up smaller coins.

Technical Analysis

The ETH 4-hour candlestick moves back near the low of 1070 after the FTX collapse, where if not further down, will form a rebound to repair. From the 3-day Bollinger band, the trend did not open downward, and still to a smooth trend, and the probability of a further decline in the short term or will be reduced. The short-term pressure levels are above 1200, 1300. Below support is near 1070. It is recommended to take a small position to go long in the market price here, and stop loss to leave if 1070 is broken. The upper target is near 1300.

ETH 4-hour chart

ETH-USDT: Technical Pullback, Is Short Term Lows Confirmed?_1

ETH 3-day chart

ETH-USDT: Technical Pullback, Is Short Term Lows Confirmed?_2

Trading Recommendations

Trading direction: long
Entry level: market price
Target: 1300
Stop Loss: 1050
Downside support: 1070
Upside resistance: 1200, 1300
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or signal, or any other product is suitable for you based on your investment objectives and financial situation.

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Damon

Analyst

I worked as an analyst at a well-known forex brokerage firm and have been engaged in the financial industry for 10 years, involving forex, futures and stocks. I'm especially good at analyzing and interpreting the market using fundamental data.

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8

Articles

1132

Win Rate

48.75%

P/L Ratio

0.87

Focus on

ETH-USDT, BTC-USDT, XAUUSD

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