3 min readETHEREUM (ETH/USD):
On the daily timeframe, the price remains confined within the current range, showing no signs of gaining upward momentum for now. We are currently trading below $2,500. With rising tensions in the Middle East, the cryptocurrency market has already experienced a significant sell-off, following a strong close in September.
Taking a closer look at the technicals reveals that on the daily timeframe, we’re currently holding support on the third touch of this trendline. However, given the strong bearish closes in recent days, it will be interesting to see if this trendline holds or if the price moves lower into further support areas. The RSI indicator doesn’t suggest that the price is oversold yet, making it another key factor to watch closely.
Author
Risk Disclaimer Disclaimer: The content provided here is for informational purposes only. It is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results.
The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
