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Weekly forecast Ethereum technical chart
Symbol ETHUSD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (2035.000 to 1925.000). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (2035.000)
    • Resistance on 02/20/2021
    • Support on 04/03/2021
    • Support on 04/04/2021
    • Support on 04/05/2021
    • Support on 04/06/2021
    • Support on 04/09/2021
    • Support on 04/18/2021
    • Support on 04/20/2021
  • Ending of entry zone (1925.000)
    • Resistance on 02/22/2021
    • Resistance on 03/13/2021
    • Resistance on 03/14/2021
    • Support on 04/01/2021
    • Support on 04/07/2021
    • Support on 04/18/2021

DateApril 27, 2021 - 15:24
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1301.30, resumption of uptrend is expected.
  • We make sure when the resistance at 2639.45 breaks.
  • If the support at 1301.30 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1347.9 on 2021-01-10 and the peak at 2034.45 on 2021-02-20, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI support #1 at 38 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1925.250 on 04/18/2021, so more gains maximum to Major Resistance (2639.450) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 68.

Take Profits:

  1. 2176.700
  2. 2367.200
  3. 2541.100
  4. 3000.000
Click on the level to view price action history.

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