Solid News

ETHUSD, Murray Analysis

12/28/2022 2:22 PM

Since the end of last month, the ETH/USD pair has been trading in the main sideways range of 1325.00-1090.00. Last week, the price attempted to grow, but rose only to the middle line of the Bollinger Bands (1236.00), which it failed to consolidate above.

Currently, the quotes have resumed a decline, the target of which may be the levels of 1090.00 and 1000.00 (Murray level [0/8]). The 1250.00 mark (Murray level [2/8]), supported by the middle line of the Bollinger Bands, remains key for the "bulls", its breakout will give the prospect of further growth to the upper limit of the lateral range of 1325.00 and, possibly, to the level of 1500.00 (Murray level [4/8]) with going beyond the long-term descending channel, however, this option the movement seems less likely, since technical indicators point out a continuation of the decline: the Bollinger Bands and the Stochastic are reversing downwards, the MACD histogram is stable in the negative zone.

Resistance levels: 1250.00, 1325.00, 1500.00. | Support levels: 1090.00, 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