Solid News

ETHUSD, Murray Analysis

11/15/2022 2:18 PM

Last week, the ETH/USD pair showed a serious decline in the framework of the general market trend after the FTX cryptocurrency exchange initiated voluntary bankruptcy, trying to find a way to return their funds to customers as part of the judicial procedure. The price of the ETH token reached four-month lows around 1071.70, after which it went into correction.

Now the quotes are trying to consolidate above 1250.00 (Murray [2/8]) with a target at 1375.00 (Murray [3/8]), 1445.00 (Fibo retracement 50.0%, the middle line of the Bollinger Bands), 1500.00 (Murray [4/8]), but the priority is a downward movement, which is confirmed by the downward reversal of the Bollinger Bands and an increase in the MACD histogram in the negative zone. In turn, the upward reversal of the Stochastic does not exclude the development of corrective growth, but its potential is seen to be limited. Thus, a repeated breakdown of the level of 1125.00 (Murray [1/8]) and a subsequent decline in the trading instrument to the area of 1000.00 (Murray [0/8]) and 875.00 (Murray [-1/8]) is likely. 

Resistance levels: 1375.00, 1445.00, 1500.00. | Support levels: 1125.00, 1000.00, 875.00.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Call Us
+35 924 928 392

Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2024