ETH/USD Daily Analysis: Key Support Levels and Potential Rebound
This analysis focuses on Ethereum (ETH/USD) on the daily timeframe, highlighting key support levels, buying opportunities, and potential rebound scenarios.
Analysis:
Key Support Levels:
ETH is back to key support at $2880.
The green box between $2880 and $2720 represents a good buying opportunity.
Major support is around $2500.
Directional Movement Index (DMI):
The DMI shows D- still controlling the market.
However, a bounce back from current levels is possible soon.
Potential Rebound:
If ETH holds the $2880 support, it could rise back to $3280.
The $3280 level aligns with the mid-Bollinger Band, serving as a key resistance.
Conclusion: ETH is at a critical juncture with key support at $2880 offering a buying opportunity. If the support holds, a rebound to $3280 is possible, despite D- currently controlling the market. Monitor these levels closely for potential bullish moves.
Analysis:
Key Support Levels:
ETH is back to key support at $2880.
The green box between $2880 and $2720 represents a good buying opportunity.
Major support is around $2500.
Directional Movement Index (DMI):
The DMI shows D- still controlling the market.
However, a bounce back from current levels is possible soon.
Potential Rebound:
If ETH holds the $2880 support, it could rise back to $3280.
The $3280 level aligns with the mid-Bollinger Band, serving as a key resistance.
Conclusion: ETH is at a critical juncture with key support at $2880 offering a buying opportunity. If the support holds, a rebound to $3280 is possible, despite D- currently controlling the market. Monitor these levels closely for potential bullish moves.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.