ETH/USD Scores Major July Gains: Sally Ho’s Technical Analysis 1 August 2021 ETH

ETH/USD Scores Major July Gains:   Sally Ho's Technical Analysis 1 August 2021 ETH

Ethereum ( ETH/USD) extended current gains above the psychologically-important 2000 figure early in the Asian session as traders continued to gain from enhancing technical belief that saw the set trade simply listed below the 2500 figure late last month.  Traders observed strong technical need simply listed below the 2163 location, right around the 38.2% retracement of the current valuing variety from 1718.41 to 2437.99  ETH/USD signed up gains of 7.3% in July and has notched gains of more than 232% year-to-date 

Above current locations of technical significance, extra upside retracement levels consist of the 2631.60, 2657.89, 2725.47, 2742.76, 2913.68, 3042.22, and 3056.22 levels  Following the current climb to multi-week highs, drawback rate retracement levels consist of 2333.53, 2303.32, 2191.54, 2041.42, and 2000.49 locations.  Traders are observing that the 50-bar MA (4-hourly) is bullishly suggesting above the 100-bar MA (4-hourly) and  above the  200-bar MA (4-hourly).  Also, the 50-bar MA (per hour) is bullishly suggesting above the 100-bar MA (per hour) and above the 200-bar MA (per hour)

Price activity is closest the 50-bar MA (4-hourly) at 2268.66 and the 50-bar MA (Hourly) at 2394.04

Technical Support is anticipated around 1700/ 1633.51/ 1456.03 with Stops anticipated below.

Technical Resistance is anticipated around 3122.22/ 3420.10/ 3788.66 with Stops anticipated above.

On 4-Hourly chart, SlowK is Bearishly listed below SlowD while MACD is Bullishly above MACDAverage

On 60-minute chart, SlowK is Bearishly listed below SlowD while MACD is Bearishly listed below MACDAverage


Disclaimer: This trading analysis is offered by a 3rd party, and for educational functions just. It does not show the views of, nor is it planned to be utilized as legal, tax, financial investment, or monetary guidance.


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John Lesley/ author of the article

John Lesley is an experienced trader specializing in technical analysis and forecasting of the cryptocurrency market. He has over 10 years of experience with a wide range of markets and assets - currencies, indices and commodities.John is the author of popular topics on major forums with millions of views and works as both an analyst and a professional trader for both clients and himself.

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