12.04.202417:11 Forex Analysis & Reviews: Trading Signals for ETH/USD (Ethereum) for April 12-15, 2024: buy above $3,435 (3/8 Murray - 200 EMA)

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

ETH/USD is trading around 3,478, having a technical correction as it is trading within the symmetrical triangle pattern. We are likely to see a further bearish movement until the token reaches the bottom of this pattern around 3,437.

Ether could trade within the symmetrical triangle pattern in the coming days until a sharp break occurs on some of the sides. A break below $3,400 could accelerate the decline towards 3,125. A bullish break above 3,540 could accelerate the bullish move and the price could reach 3,750 and even the psychological level of $4,000.

We have seen that the cryptocurrency market tends to appreciate over the weekend. Therefore, we believe that a technical bounce above 3,437 could provide an opportunity to buy with targets at 3,600 and 3,750.

We must pay close attention to this symmetrical triangle pattern to decide whether to buy or sell Ether. The Eagle indicator is giving a negative signal. It means a break below 3,400 could change the trend of ETH/USD.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.