Trading Signal for ETH/USD, (Ethereum) for June 14 - 15, 2021: Buy above $2,400

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The price of ETH / USD (Ethereum) continues to consolidate above the psychological level of $ 2,000, having lost more than 50% of profitability from the May market crash.

The ETH has established a strong bottom in the support zone of $ 2,200. It has bounced above this level. Besides, in the chart we can notice the pattern of a descending wedge.

Given that Ethereum has broken this technical pattern, it is likely that in the coming days it will continue its upward climb to the 200 EMA zone located at $ 2,812, 5/8 murray resistance zone.

We can also add that ETH / USD is now consolidating above the 21 SMA, which represents a probability of a bullish move in the next few hours.

While ETH / USD remains above the 21 SMA there is a strong medium-term bullish outlook. Its target will be the $ 2,812 zone. The eagle indicator is showing a bullish signal.

Support and Resistance Levels for June 14 – 15, 2021

Resistance (3) 2,822

Resistance (2) 2,697

Resistance (1) 2,594

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Support (1) 2,375

Support (2) 2,235

Support (3) 2,156

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Trading tip for ETH/USD (Ethereum) for June 14 - 15, 2021

Buy above $2,500 or if rebound $2,420, (SMA 21), with take profit at 2,812 (5/8), stop loss below $2,200.

The material has been provided by InstaForex Company - www.instaforex.com

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