ETH/USD: technical analysis 04.04.2018


Current trend

On 4-hour chart, ETH/USD is correcting down from the upper line of the Bollinger Bands.

If the current trend maintains, the next targets of sellers will be the level of 385.25, which is the middle line of Bollinger Bands.

A significant decrease is possible after the breakout of the level 385.25, which can develop to the level of 343.7500 (Murray [3/8]).

The upward trend will be restored after the price is set above the level of 406.2500.

In this case, the next targets of buyers will be the level of 437.5000 (Murray [6/8]).

Now the technical indicators mostly reflect the low trading activity and moderate developing of the current sideway trend.

MACD volumes are in the positive zone and are moving along the zero line.

Bollinger Bands are pointed sideways.

Stochastic’s lines are pointed downwards.

Support and resistance

Support levels: 1.2878, 1.2847, 1.2817.

Resistance levels: 375.0000, 406.2500, 437.5000.

Trading recommendations

Short positions can be opened below the level of 1.2878 with the target at around 1.2847-1.2817 and stop loss 1.2895.

Long positions can be opened above the level of 406.2500 with the target at around 437.5000 and stop loss 396.2500.