Ethereum (ETH/USD) Market Operation Is Hovering at $1,500
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Ethereum Price Prediction – July 25
The present trading situation in the ETH/USD market operation showcases price is hovering at the $1,500 trading line over a couple of days’ sessions. In the last few hours, the crypto economy has had $1,609 and $1,500, trading around $1,521 at a negative of 4.81%.
ETH/USD Market
Key Levels:
Resistance levels: $1,750, $2,000, $2,250
Support levels: $1,250, $1,000, $750
ETH/USD – Daily Chart
The ETH/USD daily chart reveals the crypto-economic market operation is hovering at the $1,500 level. The upper horizontal line drew at the value line, and the lower horizontal line drew at the $1,000 support level to denote the area where the price still moves in ranges. The 14-day SMA indicator has slightly bent northward to the higher value line underneath the 50-day SMA indicator. The Stochastic Oscillators are in the overbought region, with their lines conjoined to indicate the market is in a state of indecision.
Is it technically inclined to launch a buying order in the ETH/USD market at $1,500?
It has been that the ETH/USD market operation is hovering at $1,500. And the launching of a buying order at the value line without a tangible price action, emanating to back up its continuation to the upside, may in no time suffer losses of momentum. As a result of that sentiment, it would be technically ideal for long-position placers to suspend their new entries around the value line. There can be a safe buying entry after the price has settled at a lower-trading zone to formulate a new outlook, suggesting a decent resumption of buying orders afterward.
On the downside of the technical analysis, the ETH/USD market bears may control the price from within the point of the 50-day SMA at $1,755 and the current upper range zone at $1,500. Confirmation needed to occur from an emergence of a bearish candlestick around the latter value line to portend an early featuring of a downward-trending motion. The overall verdict remains that buyers should be wary of the bulls trap should the market shoot up abruptly from around the upper range.
ETH/BTC Price Analysis
Ethereum has continually held firmly at a higher-trading resistance against Bitcoin over the trend lines of the SMAs. The cryptocurrency pair price is hovering at a higher-trading zone over the indicators. The 14-day SMA indicator has moved northward out of the range-bound zones, trying to touch the 50-day SMA indicator closely from beneath. The Stochastic Oscillators have crossed southbound from the overbought region to position below the 80 range. A bearish candlestick is in the making to give that the market is declining gradually.
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