empty
15.02.2024 04:13 PM
Trading Signals for ETH/USD (Ethereum) on February 15-29, 2024: sell below $2,870 (50% Fibonacci - overbought)

This image is no longer relevant

ETH/USD is trading around 2,791.65 with a strong uptrend and is likely to continue rising until reaching the key level of 2,800. It could even reach the psychological level of $3,000 in the next few weeks.

According to the weekly chart, Ether has been trading within an upward trend channel since the beginning of July 2023 and has now accumulated strong bullish momentum for two consecutive weeks.

If the uptrend continues, ETH is likely to find an area of strong resistance that coincides with the top of the bullish channel. From there, we could expect a technical correction to occur.

The Fibonacci retracement of around 50% is located in the $2,800 zone. This area could offer strong resistance for Ether and we could expect a technical correction to occur with the target towards the key pivot point around 2,500.

ETH is overbought according to the H1 and H4 charts. So, a technical correction is expected to occur in the coming days and the key could be to sell below 2,800. Besides, in case Ether reaches the top of the bullish trend channel around 2,870, we could sell below this zone with the target at 2,500.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Bitcoin: Dollar Strength Could Trigger a Downturn in the Crypto Market

Today, the market's main focus will be the release of the U.S. inflation report, which is expected to show not only a halt in the recent decline but the highest

Pati Gani 11:47 2025-06-11 UTC+2

EUR/USD. June 11th. The U.S. and China Agreed on Nothing

On Tuesday, the EUR/USD pair continued to move sideways between the levels of 1.1380 and 1.1454. A new rebound from the 61.8% Fibonacci retracement level at 1.1380 enabled another rise

Samir Klishi 11:12 2025-06-11 UTC+2

GBP/USD. June 11th. UK Unemployment and US Inflation

On the hourly chart, the GBP/USD pair continued its decline on Tuesday, consolidated below the 161.8% Fibonacci level at 1.3520, and rebounded from it from below. Thus, the decline

Samir Klishi 10:56 2025-06-11 UTC+2

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday June 11, 2025.

From what is seen on the 4-hour chart, the AUD/JPY cross currency pair appears to have a Divergence between the AUD/JPY price movement and the Stochastic Oscillator indicator, so based

Arief Makmur 09:28 2025-06-11 UTC+2

Technical Analysis of Daily Price Movement of USD/IDR Exotic Currency Pairs, Wednesday June 11, 2025.

There are some interesting facts about USD/IDR at the moment, first the price movement of USD/IDR is moving below WMA (21), second the appearance of Bearish 123 pattern followed

Arief Makmur 09:28 2025-06-11 UTC+2

Trading Signals for BITCOIN (BTC/USD) for June 11-13: sell below $110,700 (21 SMA - 200 EMA)

Bitcoin is trading around 110,726, undergoing a technical correction after reaching 110,726, a level seen at the end of May. Bitcoin has formed a double top pattern, so we believe

Dimitrios Zappas 05:16 2025-06-11 UTC+2

Trading Signals for GOLD (XAU/USD) for June 11-14: 2025 sell below $3,340 (21 SMA - 7/8 Murray)

Early in the European session, gold is trading around 3,334, showing exhaustion, as it bounced above 3,300 during yesterday's American session. This price level for gold

Dimitrios Zappas 05:09 2025-06-11 UTC+2

EUR/USD Forecast for June 11, 2025

Yesterday, the US dollar attempted to push the euro below key technical support levels marked by the daily Balance and MACD indicator lines, but the euro withstood the pressure

Laurie Bailey 04:41 2025-06-11 UTC+2

GBP/USD Forecast for June 11, 2025

Yesterday's employment data from the UK for May showed an increase in the unemployment rate from 4.5% to 4.6%, along with a rise in jobless claims by 33,100

Laurie Bailey 04:41 2025-06-11 UTC+2

Silver Forecast for June 11, 2025

Over the past seven sessions, silver has made a significant upward move, yet the growth potential remains far from exhausted. The target at 38.500 — the upper boundary

Laurie Bailey 04:41 2025-06-11 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.