MG Network

something big isHappening!

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 ETH/USD (Ethereum), for July 07 - 08, 2021: Buy above $2,123

analytics60e5bf37107c6.jpg

The Ethereum is above the 21 SMA and the 200 EMA in the daily chart. It is trading with a bullish bias level after consolidating above the psychological level of $ 2,000.

According to the chart above, we note that ETH / USD could be facing a new bullish wave, and its target will be the 6/8 murray level located at $3,125 for this it should consolidate above the $2,500 level.

The news from the cryptocurrency market is not encouraging as China continues to crack down on mining farms to terminate their mining activity. In recent weeks, Beijing tightened its stance on the crypto market and clamped down on domestic mining farms and crypto exchanges.

Analysts warn that BTC could again fall to the psychological level of $20,000. Besides, Ethereum are running the risk of falling to the level of $ 1,200 that is almost 50% from the current price.

The aim of large investors and miners is to liquidate their positions at a more attractive price and then when a strong market drop occurs to buy again. No doubt, this strategy can also affect the cryptocurrency market and medium investors could get into panic.

Our recommendation is to buy ETH / USD, only if it sustains above the 200 EMA or if it makes a technical bounce in the area of the SMA of 21, (2.123) with targets at $2,500 and $3,125 (6/8).

Support and Resistance Levels for July 07 - 08, 2021

Resistance (3) 2,729

Resistance (2) 2,525

Resistance (1) 2,433

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

Support (1) 2,269

Support (2) 2,174

Support (3) 2,056

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