Trader talks about hopes of restoring Ethereum price
- June 21, 2022
- 0
disclaimer Forecasts of financial markets are the exclusive opinion of their authors. The current analysis is not a guide for trading. ForkLog is not responsible for the results
disclaimer
Forecasts of financial markets are the exclusive opinion of their authors. The current analysis is not a guide for trading. ForkLog is not responsible for the results of studies that may occur when using the trading recommendations in the reviews provided.
Vadim Shovkun, a hands-on trader and founder of the Crypto Shaman project, talks about the current situation in the market.
In a recent review, it was said that the situation in the crypto market is better mirrored by Ethereum. It is worth considering the second cryptocurrency in different time frames.
On the monthly chart, you can highlight the huge volumes on Binance generated by the liquidations. The RSI index is in the oversold region.
Serious resistance in the asset is in the $2000-2600 range, where there are two strong trading zones.
On the two-hour time frame, you can outline the approximate range of future trades of $1000-1260. A “pressure” has been created with the potential to go up to ~$1300.
We should expect further recovery in the second cryptocurrency. However, this does not mean that Ethereum will rise from current levels to $2500. In the ~$1300 region, a return to the range is likely, followed by accumulation and bullishness in a few weeks.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
