MG Network

our website isOn Vacation

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Trading Signal for Ethereum, ETH/USD, for July 20 - 21, 2021: Buy above $1,712

analytics60f6e7b81fe2a.jpg

The price of Ethereum (ETH / USD) fell to the minimum of $1,712. This level was tested on June 22 and June 26. Now ETH has again reached this area, it could be forming a triple bottom technical pattern.

The psychological level of $ 2,000 has failed to offer support to Ethereum. The bearish force continued to push below this level until the price found support at 1712.

We should expect a consolidation above $ 1,700. If the price remains above this level, we believe that there could be a technical rebound with targets towards the 21 SMA. At this level, a bearish pressure line converges.

If Ethereum manages to break out of this bearish pressure line and consolidates above the 1,875 2/8 murray zone, there could be a bullish momentum to the 200 EMA (2,059) zone and psychological level.

At the fundamental level, cryptocurrency traders began to sell Ethereum and Bitcoin and other currencies due to fear of the continued rise in inflation that would prompt the FED to withdraw its quantitative easing programs. This fact keeps the market under uncertainty and could limit the rise of the Ethereum in the short term.

According to the chart, we have drawn three circles in the 1,712 area, which has rebounded on previous occasions. Will it be a good opportunity to buy again at these levels? We must expect it to remain above the 1,875 area of 2/8 of murray for a bullish move to the 200 EMA zone.

Our recommendation is to buy above 1,712 according to the triple bottom pattern, targeting 1,858 (21 SMA) and 2,058 (200 EMA).

Support and Resistance Levels for July 20 - 21, 2021

Resistance (3) 2,063

Resistance (2) 1,965

Resistance (1) 1,841

----------------------------

Support (1) 1,663

Support (2) 1,437

Support (3) 1,096

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