ETH/USD Vulnerable amid Break Below September Low
ETH/USD takes out the September low ($1532) as it extends the decline from the start of the month.
ETH/USD Outlook
ETH/USD snapped the opening range for October after testing the 50-Day SMA ($1665), and Ethereum may continue to give back the advance from the March low ($1371) if it tracks the negative slope in the moving average.
Need a break/close below the $1431 (50% Fibonacci retracement) to $1453 (78.6% Fibonacci retracement) region to open up the March low ($1371), with the next area of interest coming in around $1240 (78.6% Fibonacci retracement).
At the same time, a move below 30 in the Relative Strength Index (RSI) is likely to be accompanied by a further decline in ETH/USD like the price action from August, but failure to break/close below the $1431 (50% Fibonacci retracement) to $1453 (78.6% Fibonacci retracement) region may keep the oscillator out of oversold territory.
Need a move back above $1565 (50% Fibonacci retracement) for ETH/USD to clear the recent series of lower highs and lows, with breach above $1623 (78.6% Fibonacci retracement) raising the scope for another test of the moving average.
ETH/USD Outlook
ETH/USD snapped the opening range for October after testing the 50-Day SMA ($1665), and Ethereum may continue to give back the advance from the March low ($1371) if it tracks the negative slope in the moving average.
Need a break/close below the $1431 (50% Fibonacci retracement) to $1453 (78.6% Fibonacci retracement) region to open up the March low ($1371), with the next area of interest coming in around $1240 (78.6% Fibonacci retracement).
At the same time, a move below 30 in the Relative Strength Index (RSI) is likely to be accompanied by a further decline in ETH/USD like the price action from August, but failure to break/close below the $1431 (50% Fibonacci retracement) to $1453 (78.6% Fibonacci retracement) region may keep the oscillator out of oversold territory.
Need a move back above $1565 (50% Fibonacci retracement) for ETH/USD to clear the recent series of lower highs and lows, with breach above $1623 (78.6% Fibonacci retracement) raising the scope for another test of the moving average.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.