ETHUSD Technical Analysis – ETHUSD Trading: 2022-04-20

 ETHUSD Technical Analysis – ETHUSD Trading: 2022-04-20

ETHUSD Technical Analysis.

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ETHUSD Technical Analysis Summary

 Buy StopÖ‰ Above 3130.81

Stop Loss: Below 3061.85

IndicatorSignal
RSINeutral
MACDBuy
MA(200) Buy
FractalsNeutral
Parabolic SARBuy
  
  

 

ETHUSD Chart Analysis

ETHUSD Technical Analysis

The ETHUSD technical analysis of the price chart on 1-hour timeframe shows ETHUSD: H1 has breached above the 200-period moving average MA(200) which is falling still. We believe the bullish momentum will continue after the price breaches above 3130.81. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 3061.85. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of CRYPTO – ETHUSD

Crypto lending platform MakerDAO bridges to cheaper networks to escape from high Ethereum gas fees. Will the ETHUSD price continue rebounding?

As Ethereum’s pricey gas fees have driven more activity and users to a wider variety of blockchains, crypto lending platform MakerDAO bridges to cheaper networks to escape from high Ethereum gas fees. It is bridging to a cheaper, faster overlay network in the form of StarkNet, the zero-knowledge (ZK) side chain built by StarkWare. Expected decline in Ethereum demand is bearish for the ETHUSD. However, the current setup is bullish for ETHUSD.

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