ETHUSD Daily Analysis

[FXGlory Ltd]

ETHUSD analysis for 16.10.2023

The 4-hour chart for ETHUSD suggests a possible shift in momentum. The RSI at 50.36, marginally above its RSI-Based MA of 45.40, depicts a market that's neither overbought nor oversold, indicating potential stability. Notably, the MACD line at -3.3 moving above the Signal line at -6.4, combined with a positive histogram value of 3.1, implies an increasing bullish momentum. Although these MACD values are in the negative range, the crossover is a positive sign. The current price of 1559.3, while neutral on its own, further cements the importance of monitoring for continued bullish signals or potential resistance points. Overall, while bullish undertones are emerging, vigilance is essential for a clear directional move confirmation.


FXGlory
16.10.2023

 

[FXGlory Ltd]

ETHUSD analysis for 06.11.2023

Time Zone: GMT +2
Time Frame: 4 Hours (H4)



Fundamental Analysis:

The ETHUSD pair reflects the exchange rate between Ethereum (ETH) and the US Dollar (USD). Fundamental factors that influence this cryptocurrency pair include technological developments within the Ethereum blockchain, regulatory news impacting cryptocurrencies, and the broader economic sentiment influencing the US Dollar. Investor sentiment around Ethereum's network upgrades, such as the transition to Ethereum 2.0, along with the US monetary policy and inflation data, play significant roles in its valuation. As global financial markets react to macroeconomic changes and the crypto industry's evolving landscape, monitoring these factors is essential for traders.



Price Action:

The H4 chart for ETHUSD indicates a bullish channel with rising support and resistance levels. The price has consistently made higher highs and higher lows, suggesting a strong uptrend within this period. Despite some pullbacks, the overall direction is upwards, with bullish momentum.



Key Technical Indicators:

RSI (Relative Strength Index): The RSI is around 68, which is nearing the overbought territory but still suggests that the bullish momentum is strong.

Volumes: The volume appears relatively consistent, with occasional spikes that coincide with significant price movements, indicating active market participation.

MACD (Moving Average Convergence Divergence): The MACD line is above the signal line and in positive territory, which is indicative of bullish momentum. There's also no sign of immediate crossover, suggesting the trend may continue.



Support and Resistance:

Resistance: The upper boundary of the bullish channel, which is currently near the 1905 level, is acting as a dynamic resistance.

Support: The lower boundary of the bullish channel, approximately around the 1830 level, serves as a dynamic support.



Conclusion and Consideration:

The ETHUSD pair on the H4 timeframe shows a clear bullish trend, supported by the price action within the ascending channel. Both RSI and MACD indicators are in favor of the current uptrend. However, traders should exercise caution as the RSI approaches overbought levels, which might lead to a temporary pullback or consolidation. Monitoring upcoming fundamental developments, especially concerning the Ethereum network and US economic data, is critical for anticipating potential trend reversals or continuations. Traders need to consider setting stop losses and taking profit levels near identified support and resistance zones to manage risk effectively.



Disclaimer: We do not suggest any investment advice, and these analyses are just to increase the traders' awareness but not a certain instruction for trading.


FXGlory
06.11.2023

 

[FXGlory Ltd]

ETHUSD analysis for 29.12.2023





Time Zone: GMT +2

Time Frame: 4 Hours (H4)


Fundamental Analysis:

The ETHUSD pair represents the value of Ethereum in US dollars, with its price influenced by both cryptocurrency market sentiment and broader economic factors. Developments in the Ethereum blockchain, such as upgrades and protocol changes, can significantly impact its demand and value. Regulatory changes and policy decisions in major economies can also cause volatility, affecting investor confidence. The overall economic environment, including inflation rates and monetary policy shifts in the United States, also play a critical role in shaping the ETHUSD exchange rate.


Price Action:

The H4 timeframe shows ETHUSD in a moderate uptrend, as evidenced by the price moving above the Ichimoku cloud and the creation of higher lows. This period has seen some volatility, with price swings both to the upside and downside, but the general trajectory has been upward.


Key Technical Indicators:

MACD: The MACD histogram is positive but shows signs of decreasing momentum, and the MACD line is above the signal line, suggesting bullish momentum with caution for potential deceleration.

Ichimoku: The price is above the cloud, and the Tenkan-sen (turning line) is above the Kijun-sen (standard line), which typically indicates bullish momentum. The Chikou Span (lagging span) is also above past price action, confirming the current uptrend.

RSI: The Relative Strength Index is around 54, indicating neither overbought nor oversold conditions, suggesting there is potential for the trend to continue without immediate reversal pressure.

Volumes: Trading volumes have been uneven, with some spikes indicating heightened trading activity, which often corresponds with key price movements.


Support and Resistance:

Resistance: The most recent resistance can be seen around the $2442 level, where the price peaked before retracting.

Support: The price appears to find support around the $2239 level, aligning with the lower boundary of the recent price movement.


Conclusion and Consideration:

The ETHUSD on the H4 chart shows bullish signs, with key indicators supporting the upward trend. However, the decreasing momentum in the MACD suggests that traders should be watchful for signs of a trend reversal. With the RSI indicating room for upward movement, and the price above the Ichimoku cloud, the outlook remains positive. Traders should monitor fundamental developments affecting both Ethereum and the US dollar closely and consider using support and resistance levels to set stop losses and take profits, managing risks accordingly.


Disclaimer: This analysis is for educational purposes only and should not be taken as investment advice. Traders should conduct their own research and exercise due diligence in their trading decisions.


FXGlory
29.12.2023

 

[FXGlory Ltd]

ETHUSD Daily Technical and Fundamental Analysis for 01.07.2025

Time Zone: GMT +2
Time Frame: 4 Hours (H4)


Fundamental Analysis:
The ETH/USD pair is currently under the influence of a potential "Alcoin season," indicating a surge in interest and investment within the alternative cryptocurrency market. Today's key economic indicators for the USD, including the ISM Services PMI expected to rise to 53.5 from 52.1 and JOLTS Job Openings slightly decreasing to 7.73M from 7.74M, are scheduled for release at 3:00 PM. A stronger-than-expected ISM Services PMI could bolster the USD, potentially exerting downward pressure on ETH/USD. Conversely, stable JOLTS figures are likely to have a neutral impact. Additionally, the increasing interest in alternative coins suggests a bullish sentiment that may support ETH/USD's upward trajectory.


Price Action:
On the H4 timeframe, ETH/USD has embarked on a bullish wave, striving to breach the 0.618 Fibonacci retracement level. The price action reflects a strong upward momentum, with ETH/USD maintaining its stance above key support levels at 3605.70, 3557.5, and 3486.00. This bullish movement suggests sustained buying interest and the potential for further price appreciation. The current attempt to surpass the Fibonacci level is a critical juncture that could either confirm the continuation of the bullish trend or lead to a consolidation phase if the resistance proves too strong.


Key Technical Indicators:
MACD (Moving Average Convergence Divergence): The MACD is displaying a positive divergence, with the MACD line positioned above the signal line. The increasing histogram indicates growing bullish momentum, supporting the current upward trend in ETH/USD.
Ichimoku Cloud: ETH/USD is trading above the Ichimoku Cloud, which is a strong bullish signal. The cloud's configuration provides robust support for the ongoing upward movement, suggesting that the bullish trend is well-supported by this indicator.


Support and Resistance:
Support Levels: Immediate Support: 3605.70 – This level aligns with recent price consolidation and serves as the first line of defense against potential downward movements. Secondary Supports: 3557.5 and 3486.00 – These additional support levels provide strong floors that can absorb further declines, reinforcing the bullish outlook.
Resistance Levels: Primary Resistance: 0.618 Fibonacci Retracement Level – This is the key barrier that ETH/USD is attempting to overcome. A successful breach could lead to significant upward movement. Additional Resistance Levels: Previous highs and psychological price points should be monitored for potential resistance zones that may challenge the bullish momentum.


Conclusion and Consideration:
The ETH/USD pair on the H4 chart exhibits robust bullish momentum, underpinned by key technical indicators such as MACD and the Ichimoku Cloud. The current price action, striving to break above the 0.618 Fibonacci retracement level, indicates a strong potential for continued upward movement. Supported by solid support levels at 3605.70, 3557.5, and 3486.00, the bullish trend appears well-supported. However, traders should remain vigilant of the critical resistance at the Fibonacci level and the impact of upcoming USD economic data releases. A successful breakout could present lucrative trading opportunities, while any failure to breach resistance may lead to a retracement towards the established supports.


Disclaimer: The analysis provided for ETH/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on ETHUSD. Market conditions can change quickly, so staying informed with the latest data is essential.


FXGlory
01.07.2024

 

[FXGlory Ltd]

ETHUSD H4 Technical and Fundamental Analysis for 03.14.2025

Time Zone: GMT +2
Time Frame: 4 Hours (H4)


Fundamental Analysis:
Ethereum (ETHUSD) remains a major player in the cryptocurrency market, widely used for decentralized applications and smart contracts. Today, ETH/USD's price action will be significantly influenced by the University of Michigan Consumer Sentiment and Inflation Expectations reports from the U.S. These economic indicators can impact the strength of the U.S. dollar (USD), which historically shares an inverse correlation with Ethereum and other cryptocurrencies. If consumer confidence is stronger than expected, it may lead to USD strength, applying bearish pressure on ETHUSD. Conversely, weak consumer sentiment and inflation concerns could support Ethereum’s price, as traders seek alternatives to fiat currencies. With ongoing regulatory discussions in the U.S. and potential institutional adoption of Ethereum-based applications, ETHUSD traders should monitor both macroeconomic data and blockchain-related developments.


Price Action:
The ETHUSD H4 chart reveals a clear bearish trend within a descending channel, with price action consistently forming lower highs and lower lows. The cryptocurrency is struggling to gain bullish momentum, facing resistance at key levels while respecting the downward-sloping trendline. Despite temporary consolidation, Ethereum remains below both short- and long-term moving averages, reinforcing the prevailing bearish sentiment. If ETHUSD fails to break above resistance levels, further downside pressure may lead to another leg lower toward the next support zone. However, a breakout above the descending channel could signal a potential trend reversal.


Key Technical Indicators:
Moving Averages (MA): The price remains below the 9-period short MA (blue) and the 17-period long MA (orange), confirming a strong bearish momentum. The downward crossover of the shorter MA below the longer MA suggests continued selling pressure, making bullish recoveries less likely unless a decisive break above the moving averages occurs.
Stochastic Oscillator: The stochastic (5,3,3) is currently at 30.66, indicating that ETHUSD is approaching oversold territory but has not yet fully bottomed out. If the stochastic moves below 20, a short-term bounce may occur; however, sustained bearish momentum suggests further weakness unless a reversal signal emerges.
Volume: The volume bars show increased selling pressure, especially during major downward price movements. There has been no significant spike in buying volume, meaning the bears remain in control. If volume increases on bullish candles, it may indicate a potential accumulation phase before a breakout.


Support and Resistance Levels:
Support: The nearest support level is $1,735, which aligns with previous lows and a key psychological barrier. A break below this level could lead to further declines.
Resistance: The first major resistance level is at $1,955, near the upper boundary of the descending channel. A breakout above this level could invalidate the bearish trend and shift momentum towards the bulls.


Conclusion and Consideration:
The ETHUSD H4 analysis confirms a strong bearish trend, with price action respecting a downward channel and key indicators pointing toward continued weakness. The moving averages, stochastic, and volume all support the bearish outlook unless a major resistance breakout occurs. Traders should monitor today’s U.S. economic data, as stronger-than-expected results may push the USD higher, further pressuring ETHUSD. A potential break above $1,955 could signal a trend shift, but failure to hold support at $1,735 may trigger further declines. Given the volatile nature of cryptocurrencies, traders should apply proper risk management strategies and remain aware of global economic and regulatory developments.


Disclaimer: The analysis provided for ETH/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on ETHUSD. Market conditions can change quickly, so staying informed with the latest data is essential.


FXGlory
03.14.2025