Ethereum Price Prediction: ETH/USD Trade Sets for Recovery

Trade Sets for Recovery – July 18
There is a sign that the ETH/USD trade now sets for recovery as price is around the level of $1,966. The crypto witnesses a percentage of about 3.51 increases.

Trade Sets for Recovery ETH Market
Key Levels:
Resistance levels: $2,500, $3,000, $3,500
Support levels: $1,700, $1,500, $1,300

ETH/USD – Daily Chart
There has been a bullish candlestick, beefing up on the ETH/USD daily chart to show that the crypto trade sets for recovery near below the line at $2,000. The 14-day SMA is underneath the 50-day SMA. The bearish trend-line drew downward across the SMA trend lines. The Stochastic Oscillators are in the oversold region with the lines crossed northbound. That indicates that the crypto is getting set for price recovery pairing with the US Dollar.


Could there be a continuation in the upside move as the ETH/USD trade sets for recovery?

A bullish candlestick is forming to indicate an upside as the ETH/USD trade sets for recovery from a lower range line. As it is, bulls are seemingly warming up to regain the market lost momentum in the last several days’ trading sessions. By what the Stochastic Oscillators are reading, a buying wall may soon emerge by the completion of the present bullish candlestick in the making.

On the downside analysis, the ETH/USD bears may have to put actions on hold for a while as the pressure to the south now appears, fading off gently. A feeble reversal of the current bullish candlestick in the making seems not forthcoming on a higher note to safely suggest a stable continuation in the market. In the event of getting to see a further in this crypto trade, the mid-point of $2,000 and $1,500 may be the extent that price may push.

ETH/BTC Price Analysis

In the comparison, Ethereum’s trade sets for recovery as paired Bitcoin as shown on the price analysis. A bullish candlestick has formed from the buy signal side of the bigger SMA to touch the smaller SMA on the sell signal side, aiming to push northward further. The bullish trend-line conjoined with the 50-day SMA from beneath as the 14-day SMA is over them. The Stochastic Oscillators are in the oversold region, slightly pointing to the north at a range of 20. That indicates that the base crypto is trying to make a come-back as compared with the flagship cryptocurrency.

 

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Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.

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