Solid News

ETHUSD, Murrey Levels Analysis

11/1/2022 2:36 PM

Last week, the ETH/USD pair attempted to grow within the general market trend, left the stable sideways range of 1375.00–1250.00 (Murrey [2/8]–[0/8]), and reached two-month highs around 1663.55.

Currently, quotes have rolled back to the area of ​​1562.50 (Murrey [5/8], Fibonacci retracement 38.2%), but the upward momentum may not be lost yet. In case of re-consolidation above 1625.00 (Murrey [6/8]), positive dynamics may continue to 1750.00 (Murrey [8/8], Fibonacci retracement 23.6%) and 1812.50 (Murrey [+1/8], the upper limit of the long-term downlink). The key "bearish" level is 1500.00 (Murrey [4/8]). Its breakdown will give the prospect of quotes returning to 1410.00 (the middle line of Bollinger bands), 1375.00 (Murrey [2/8]), 1312.50 (Murrey [1/ 8], Fibonacci retracement 61.8%).

Technical indicators keep a buy signal: Bollinger bands are reversing upwards, and MACD is increasing in the positive zone. However, Stochastic reversing downwards does not exclude the resumption of the decline.

Resistance levels: 1625.00, 1750.00, 1812.50. | Support levels: 1500.00, 1410.00, 1375.00, 1312.50.

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 2023