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analyst75

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analyst75 last won the day on March 24 2018

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  • First Name
    Azeez
  • Last Name
    Mustapha
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    Nigeria
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    Forex analyst, coach and funds manager
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    Tallinex focuses on risk mitigation, leading us to develop proprietary trading technologies. All Tallinex trades are transmitted swiftly and reliably to the world's largest banks through a PrimeXM FX bridge to Integral's FX Grid system, which is optimized for Forex trading. Our clients can therefore benefit from better ECN/STP technology and confidently trade the Forex markets through Tallinex.
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    Forex trading

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    Meta Taders 4
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    Tickmill

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  1. NASDAQ 100 PRICE ANALYSIS — DECEMBER 1 The Nasdaq 100 (NDX) has rounded off November on a positive note, after the month up by more than 11%. This surge was mainly stimulated by the recently-concluded US Presidential election and the discovery of potential COVID-19 vaccines. These themes were the major dominating fundamental factors through November, as hopes for things to go back to normal (pre-covid) ignited some sectoral rotation. The rotation occurred mainly between work-from-home stocks and traditional businesses, which helped indexes like the Dow Jones (DJIA) and Russell 2000 take the lead from the Nasdaq 100. Nonetheless, the NDX remains in a favorable position as markets enter the close of 2020. That said, stimulus hopes and potential political stalemate in Washington over most of President-elect Biden’s policies could cause the Federal Reserve to maintain its dovish outlook, which would be very beneficial for NDX bulls. That said, it is likely that there are tailwinds present in the equity market ahead of December and 2021. However, there’s the possibility that the NDX could fall into consolidation before we see a continuation to the upside, as the US Presidential election-induced volatility has now been weaned out of the market. Nasdaq 100 (NDX) Value Forecast — December 1 NDX Major Bias: Bullish Supply Levels: 12300, 12370, and 12439. Demand Levels: 12220, 12000, and 11890. The NDX is on an aggressive bullish rally as it inches closer to its all-time high at 12439. At the moment, the 12220 support will likely prevent any sustained decline given the confluence of indicators (ascending trendline and 12220 crucial support) at that level. We expect the NDX to break its previous all-time high and record new peaks in the coming days before consolidation likely sets in. Source: https://learn2.trade
  2. GERMANY 30 (DE30EUR) IS IN A DOWNWARD MOVE, MAY FALL TO LEVEL 13153.70 Key Resistance Zones: 13600, 14000, 14400 Key Support Zones: 11200, 10800, 10400 Germany 30 (DE30EUR) Long-term Trend: Bullish The index is an upward move but it is facing resistance at level 13200. It must have reached bullish exhaustion as it faces rejection. On November 10, a retraced candle body tested the 88.6% Fibonacci retracement. This indicates that the index will rise to level 1.1129 and perhaps reversed. DE30EUR – Daily Chart Daily Chart Indicators Reading: Presently, the SMAs are sloping upward indicating the uptrend. The index is at level 64 of the Relative Strength Index period 14. This indicates that it is in the uptrend zone and above the centerline 50. Germany 30 (DE30EUR) Medium-term Trend: Bullish On the 4- hour chart, the index is in a downward move. On November 30 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. This implies that the index will fall and reach level 1.618 Fibonacci extension. DE30EUR – 2 Hour Chart 4-hour Chart Indicators Reading The market is below the 80% range of the daily stochastic. It indicates that the index is in a bearish momentum. Meanwhile, the 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend. General Outlook for Germany 30 (DE30EUR) DE30EUR is likely to take a downward movement. The index has been trading in the overbought region. Sellers may emerge to push prices down. However, in a trending market, the overbought condition may not hold. That is the pair will continue to rise. Source: https://learn2.trade
  3. Those who take quick and payday loans and refuse to pay them back are now hooked. Normally, it is not a good thing to go into debt unless that is your last resort. We know that people are fond of borrowing and they seriously hate paying it back. Even when it comes to paying back what was borrowed, your creditor will become your enemy. Such is the nature of human beings. Debtors don’t want to return money even when they eventually have means of repayment. If anyone borrows money and returns it, it means the person has a Godly spirit in him. If people ponder the power of compound interest, they would stay away from loans. If you pay 1.33% or 1.79% interest per month on a loan, you will need to pay back roughly 16% or 20% per annum. And this will begin to compound as long as you don’t pay. Most borrowers who are now in trouble have realized that the interest rates are eventually higher than the capitals borrowed. They realize that the creditors are using an indirect way to enslave borrowers (go and work for me, bring back the capital plus profits). The banks themselves know that business environment is very tough and are now indirectly asking people to work with or spend the banks’ funds and bring the funds plus profits back to them. Many borrowers really have poor mentality and they don’t know the gravity of what they’re putting themselves into. If a bank could lend out 1 billion USD per annum, it would reap a return of 150 million USD (at least on paper). Do you think they will forget about you if you owe them even a small amount? Loans without collateral are now popular. But your collateral is your BVN – unless you don’t want to operate accounts again in the country. I have heard people saying” Don’t pay to my Access Bank account again, but pay into my UBA bank account.” “Don’t send that cash into my GTBank account again, but send it to Zenith Bank.” It’s like postponing the evil day. Ti iya o ba i tii je eniyan, iya nri nkan panu lowo ni (Yoruba adage). I literally means: If Suffering has not come to attack you, it means Suffering is currently busy with something. If you think you can avoid payment by abandoning the account you used to borrow money, you’re only postponing the evil day. They cannot come for you when your debt is small, but the debt will begin to compound and compound till it would make sense for them to come for you. BAD NEWS FOR DEBTORS CBN has given banks permission to deduct from funds a debtor has in another bank account. For example, if you borrow quick loans from FCMB and you abandon your FCMB account and you are now operating another account with First Bank, FCMB can make a request to First Bank, and the money you owed will be deducted once or gradually from your account at First Bank, without your permission. Would you now keep money at home, so that bad boys will come to you to take their dues? Borrowing isn’t a good thing, no matter how plausible it looks. Profits from games of knowledge: https://www.predictmag.com/
  4. LITECOIN (LTC) SUSTAINS RECENT RALLIES, FACES RESISTANCE AT $90 HIGH Key Highlights Litecoin rallies to the high of $90 The crypto may be range-bound between $80 and $90 Litecoin (LTC) Current Statistics The current price: $89.20 Market Capitalization: $5,900,735,267 Trading Volume: $7,953,660,011 Major supply zones: $70, $80, $90 Major demand zones: $50, $30, $10 Litecoin (LTC) Price Analysis November 24, 2020 Litecoin has continued its rallies as the coin reached a high of $89.86. LTC price has been making a series of higher highs and higher lows. The upward move has been facing resistance at $90. On the upside, if buyers can push LTC above $90, the coin will rally above $100 high. However, if buyers fail to resume the upside momentum, LTC will be compelled to a sideways move for a few days. If the uptrend is resisted the coin will be range bound between $80 and $90. LTC/USD – Daily Chart Litecoin (LTC) Technical Indicators Reading LTC price broke the resistance line of the ascending channel. This indicates a further upward movement of the coin. The crypto is at level 74 of the Relative Strength Index period 14. It indicates that the coin is in the overbought region of the market. LTC/USD – 4 Hour Chart Conclusion Litecoin has made an impressive bullish run on the upside. Nevertheless, the retraced candle body on October 31 tested the 61.8% Fibonacci retracement level. It indicates that the coin will rise to a level of 1.618 Fibonacci extension level. This extension is equivalent to $70 high. Meanwhile, the price action is above the projected price level. Source: https://learn2.trade
  5. XRP/USD PULLS BACK AT RESISTANCE LEVEL OF $0.72 XRP/USD MARKET NOVEMBER 26 After the price retracement, it may resume its bullish trend and the resistance level of $0.79 and $0.88 may be reached. Below the current price, the level is found the support levels at $0.55, $0.44, and $0.39. However, the relative strength index period 14 is at 70 levels bending down to indicate a sell signal which may be a pullback. KEY LEVELS: Resistance levels: $0.72, $0.79, $0.88 Support levels: $0.61, $0.55, $0.49 XRP/USD Long-term Trend: Bullish XRPUSD is bullish in the long-term outlook; the crypto soars towards the north by the strong bullish momentum. The bulls’ momentum breaks up the resistance levels of $0.28, $0.33, and $0.36. The price has tested the resistance level of $0.79 on October 24. The price pulls back to retest the broken level of $0.61. Today, the XRP market is dominated by the bears and the daily candle is bearish. The price may increase further after the pullback. XRPUSD Daily chart, November 26 The two EMAs are located below the coin and it is trading far above 9 periods EMA and 21 periods EMA which indicate a strong bullish momentum. After the price retracement, it may resume its bullish trend and the resistance level of $0.79 and $0.88 may be reached. Below the current price, the support levels is found at $0.55, $0.44, and $0.39. However, the relative strength index period 14 is at 70 levels bending down to indicate a sell signal which may be a pullback. XRP/USD medium-term Trend: Bullish The bulls dominate the XRPUSD market. Immediately after the breakout from the consolidation zone, the bulls push the price high above the September high. It is currently pulling back at the resistance level of $0.72. The price is testing the support level of $0.55 at the time of writing this report. In case the just mentioned level does not hold, there will be a further price reduction. XRPUSD 4-Hour chart, November 26 The price has penetrated the two EMAs downside and it is trading below 9 periods EMA and 21 periods EMA. The fast-moving EMA is trying to cross the slow-moving EMA downside. The relative strength index period 14 is pointing down at 50 levels which connotes a sell signal and it may be a pullback. Source: https://learn2.trade
  6. USD/JPY IS REACHING BEARISH EXHAUSTION, MAY REVERSE AT LEVEL 103.23 Key Resistance Levels: 111.000, 112.000, 113.000 Key Support Levels: 104.000, 103.000, 102.000 USD/JPY Price Long-term Trend: Bearish The USD/JPY pair has been in a downward move since November 12 after a rebound above level 103.30. The pair is approaching the previous support at level 103.30. The selling pressure will resume if the current is broken. The Yen will resume an upward move if the support holds. USD/JPY – Daily Chart Daily Chart Indicators Reading: The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend. The pair has fallen to level 40 of the Relative Strength Index period 14. The pair is in the downtrend zone and capable of falling. USD/JPY Medium-term Trend: Bearish On the 4-hour chart, the pair has been in a downward move after rejection at 105.00. On November 18 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This indicates that the market will fall to level 1.272 Fibonacci extensions. That is the Yen will reach the low of level 103.23 and reverse. USD/JPY – 4 Hour Chart 4-hour Chart Indicators Reading The USD/JPY pair is currently above the 25% range of the daily stochastic. It indicates that the pair is in a bullish momentum. The SMAs are sloping downward indicating the downtrend. General Outlook for USD/JPY USD/JPY has been on a downward move but the selling pressure is reaching bearish exhaustion. According to the Fibonacci tool analysis, the Yen will fall and reverse at level 103.23. Source: https://learn2.trade
  7. EURJPY BEARISH MOMENTUM REMAINS TOWARD 123.00 LEVEL EURJPY Price Analysis – November 20 The EURJPY pair is attempting to close beneath the 123.37 price zone as speculative interest stays trapped between coronavirus outbreaks and vaccine hopes. The pairs selling momentum remains toward the 123.00 level. Key Levels Resistance Levels: 127.07, 125.00, 123.37 Support Levels: 122.37, 121.61, 119.31 EURJPY Long term Trend: Ranging As seen in the daily time frame, the downside pressure is expected to accelerate if EURJPY breaks below the 123.00 support, exposing the ascending trendline support and the 122.37 low. Meanwhile, the moving average 5 and 13 stays mixed for a range in the coming sessions. If the 123.00 support holds, a surge towards the 123.40 level could be expected during the following trading session. However, a barrier around the MA 13 could serve as a limitation for bullish traders within this session. Lower here a firm breach of 119.31 level will argue that the rise from 114.42 level has completed and turned the focus back lower. EURJPY Short term Trend: Ranging The intraday bias in EURJPY is staying in consolidation with the current recovery. A much more decline is mildly in consideration with 123.37 minor resistance level intact. Beneath the 122.37 level will target a test on the 121.61 low level initially. The resolute breach there may restart the trend from 127.07 level with another decline to 119.31 key support level. On the upside, though, a breach of 123.37 minor resistance level may shift sentiment back to the upside for the 125.00 level instead. Source: https://learn2.trade
  8. ANALYST BELIEVES BITCOIN IS WORKING ACCORDING TO PLAN AHEAD OF SIX-DIGIT PROJECTION The creator of the popular stock-to-flow model, PlanB, has affirmed that Bitcoin (BTC) is going according to plan like “clockwork, “ following its third halving event. PlanB, an anonymous developer, has lauded the S2FX model and believes that BTC will be trading between $100,000 and $288,000 by the end of 2021. The stock-to-flow model and other existing variations are some of the most used BTC prediction tools within the cryptocurrency community. The first version of S2FX, known as the original stock-to-flow ratio, outlined the stock of existing reserves and the flow (the annual supply of BTC in the market). The ensuing version provided more complex and comprehensive Bitcoin information. Apart from stock and flow, it also showed the different phases BTC has passed through since its creation in 2009. These phases include proof-of-concept, the payment phase, e-gold, and financial assets. The Bitcoin halving, which occurs automatically every four years, is arguably the most crucial part of the models because it cuts BTC supply in half, which decreases the flow. That said, PlanB and S2FX supporters monitor Bitcoin’s price performance assiduously after every halving. The analyst asserted that the benchmark cryptocurrency is moving like clockwork since its third halving in May. already, Bitcoin is showing some similarities with the price dynamics in 2012. BTCUSD – 4-Hour Chart Key BTC Levels to Watch in the Near-Term — November 11 Bitcoin remains on a strong bullish trajectory, despite many projections that bullish steam might be running out. The cryptocurrency has renewed its 2020 high, after hitting $16,000 just a few hours ago. This is a good sign that the bullish momentum is still intact. That said, we could see BTC hit the $16,500 – $17,000 area soon. However, we could see a mild pullback towards the mid-$15,000 in the coming hours. Total market capital: $453 billion Bitcoin market capital: $291 billion Bitcoin dominance: 64% Source: https://learn2.trade
  9. ETHEREUM (ETH) PRICE ANALYSIS: ETHER HOVERS ABOVE $450 SUPPORT FOR A POSSIBLE UPTREND CONTINUATION Key Highlights Ether fluctuates above $450 support The coin has a target price of $488 high Ethereum (ETH) Current Statistics The current price: $458.89 Market Capitalization: $52,029,363,330 Trading Volume: $14,108,917,588 Major supply zones: $280, $320, $360 Major demand zones: $160, $140, $100 Ethereum (ETH) Price Analysis November 11, 2020 On November 10, the altcoin rebounded but could not break the $470 resistance. The upward move was repelled as price retraced to the $455 low. The upside momentum will always resume as long as price finds support above $450 support. Presently, the coin is trading at $462 at the time of writing. On the upside, a strong bounce above $460 will propel price to break the $470 resistance. Ether will rally above $488 once the $470 resistance is breached. The upside momentum will be invalidated if the bears break the $450 and the $430 support level. ETH/USD – Daily Chart ETH Technical Indicators Reading Ethereum is trading above the resistance line of the ascending channel. The biggest altcoin will continue to trend higher as long as price is sustained above the resistance line. The coin will resume a downward move if the price breaks below the resistance line. ETH/USD – 4 Hour Chart Conclusion Ethereum bulls are close to breaking the resistance at $470. Once the resistance is broken the Fibonacci tool analysis will hold. When the coin was resisted on November 7 uptrend, the retraced candle body tested the 50% Fibonacci retracement level. This explains that the coin is likely to move up to level 2.0 Fibonacci extension which is $539.17 high. Source: https://learn2.trade
  10. LITECOIN (LTC) IS LIKELY TO SINK BELOW $51 AS BULLS AND BEARS TUSSLE FOR PRICE POSSESSION Key Highlights Litecoin plunges to $51 low and corrected upward LTC risks further downward move as price reaches overbought region Litecoin (LTC) Current Statistics The current price: $52.49 Market Capitalization: $3,453,939,467 Trading Volume: $2,849,880,504 Major supply zones: $70, $80, $90 Major demand zones: $50, $30, $10 Litecoin (LTC) Price Analysis November 3, 2020 Litecoin has been on a downward move. Today, the bearish impulse reached a low of $51 and corrected upward. Presently, it is facing another rejection at the $53 high. There is a likelihood of a further downward move. On the downside, if price retraces and breaks below the $51 support, the market will drop to $46 or $47 support. The coin will resume an uptrend if the price finds support above $51. The $51 support is where the coin resumes upside momentum. LTC/USD – Daily Chart Litecoin (LTC) Technical Indicators Reading The coin is below the 60% range of the daily stochastic. It indicates that it is in the bearish momentum. The selling pressure of the coin will persist once the price breaks below the SMAs. The coin is at level 50 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. LTC/USD – Daily Chart Conclusion Litecoin is likely to further decline as price retests the $56 high. On October 30 downtrend; a retraced candle body tested the 61.8% Fibonacci Retracement level. This indicates that the market will further depreciate to level 1.618 Fibonacci extensions or $47 low. Source: https://learn2.trade
  11. WILL THE 2020 UNITED STATES PRESIDENTIAL ELECTION UPHEAVE THE MARKETS? The 2020 United States presidential election is here and traders are expecting high volatility in the markets. My Take Nothing unusual and nothing extraordinary will happen in the markets. The markets don’t surprise people when they’re looking out for such; surprises come only when people don’t expect them. An informational traffic sign post indicating a financial market business concept – a clipping path is included to separate sign from bkg. Canon 5D MarkII and composition in Photoshop. Let’s use an example of an eye that has seen the ocean and the sea. When that same eye observes a pool of water in the bathroom, it would be as though it has seen nothing; when compared to the ocean and the sea. The effects of the election on the markets might turn out to be a pool in the bathroom. I forecast that the elections might bring a measure of volatility, but the volatility would pale into insignificance when compared to what happened as recent as March 2020. Those March events caught the world by surprise. There are many examples like that. So elections are being held in the US, and you’re expecting something extraordinary? Sorry, the market has a knack for going against the expectations of the public. Because you expect storms in the markets; the storms won’t be as extraordinary as you currently imagine. We may see a continuation in the current market directions or spikes in opposite directions, followed by trend continuations. It may even be complete and sustained changes in trends. But whatever happens, it is not going to be anything new or unusual. American flag waving with the Capitol Hill in the background What I Will Do That is why I hold some positions. If things go against me, I can’t lose more than say, 1.5% per trade (perhaps huge slippage and spreads factored in). In case things move in my favor, then I would be grateful for whatever the markets give me. After all, my rewards are always higher than the risk. What can you do if you disagree with this post? The answer is simple. Stay out of the markets. But you will realize later that there is no big deal after all. Source: https://learn2.trade
  12. EUR/CHF IS IN AN UPTREND, MAY REACH LEVEL 1.0730 Key Resistance Levels: 1.0800, 1.0900, 1.1000 Key Support Levels: 1.0600, 1.0500, 1.0400 EUR/CHF Price Long-term Trend: Ranging EUR/CHF has been on a downward move since September 25. On October 15 downtrend; a retraced candle body tested 78.6 % Fibonacci retracement level. This indicates that the pair will fall and reach a low of 1.272 and later reverse. EUR/CHF – Daily Chart Daily Chart Indicators Reading: The pair is at level 41 of the Relative Strength Index period 14. It implies that the market is in a downtrend and below the centerline 50. The 50-day SMA and 21-day SMA are sloping horizontally. It indicates the sideways trend. EUR/CHF Medium-term Trend: Bullish On the 4-hour chart, the pair is also rising. On October 20, a retraced candle body tested 50 Fibonacci retracement level. This also indicates that the pair will rise and reach level 2.0 Fibonacci extension. That is the low level of 1.0730. EUR/CHF – 30 Min Chart 4 Hour Chart Indicator Reading The 50-day and 21-day SMAs are sloping sideways indicating the previous trend. The pair is below the 30% range of the daily stochastic. It indicates that the market is in a bearish momentum. General Outlook for EUR/CHF EUR/CHF is rising after breaking the initial resistance. The price rebounded at level 1.0714 to resume the upward move. According to the Fibonacci tool, the market will reach level of 1.0730. Source: https://learn2.trade
  13. EURUSD RISKS DEEPER DECLINE AT 1.1800 LEVEL ON SURGE IN EUROPE COVID-19 CASES EURUSD Price Analysis – October 26 Growing fears of a surge in Europe Covid-19 cases may slowdown economic recovery as new infections trigger stricter measures and prompt investors into safety. EURUSD risks a deeper decline at the 1.1800 level as buyers repeatedly failed to make a sustained break above the daily cloud top around the 1.1850 level. Key Levels Resistance Levels: 1.2150, 1.2011, 1.1917 Support Levels: 1.1807, 1.1612, 1.1422 EURUSD Long-term Trend: Ranging EURUSD is under pressure, trading near the 1.1810 level, and is in danger of further falling. The EURUSD rally appears to have hit a decent barrier at recent highs around 1.1880. A break of this area is expected to push the pair higher towards the 1.1917 area as the bullish trend is expected to resume at the key level. In a broader context, the rise from 1.0635 is seen as the third phase of the pattern from 1.0339 (low). A further rally towards the cluster resistance at 1.2011 can be seen. This will remain a preferable case as long as the resistance at 1.1422 is held and turned into support. EURUSD Short-term Trend: Ranging EURUSD intraday trend stays neutral as consolidation from 1.1880 regions continues. Nevertheless, further growth stays in favor while maintaining the support level of 1.1685. The break into 1.1880 regions will be a test at the 1.2011 high. The 4 hours chart shows that the pair is developing below the moderately bearish 5 and 13 moving averages. A move below 1.1800 is needed to mark an immediate (minor) high for a pullback to the bottom of the short-term channel seen at 1.1725. On the other hand, a breakout of 1.1685 is likely to extend the corrective pattern from 1.2011 by one more phase. Intraday bias will return to the downside towards 1.1612 and below. Source: https://learn2.trade
  14. BITCOIN PRICE ANALYSIS: COULD CBDCS BE THE END OF BITCOIN? Ever since Facebook publicized its plans to develop a digital currency called Libra, central banks across the globe have tried to counter it with their cryptocurrency. While Facebook’s Libra has come under heavy scrutiny and regulatory obstacles, more than 80% of the world’s central banks are working assiduously to develop a central bank digital currency (CBDC). Meanwhile, the foundational basis of a CBDC is fundamentally disparate to what Bitcoin (BTC) is about. That said, the cryptocurrency community has begun speculating what the effect of a government-issued digital currency would have on the benchmark cryptocurrency. Below are some of the possible outcomes of CBDCs on Bitcoin: Plot A The common expectation is that CBDCs will be bad for Bitcoin and the crypto industry at large, considering that world governments will place their weight behind CBDCs giving it a higher adoption rate compared to BTC. Plot B The next popular opinion is that CBDCs could give Bitcoin better widespread use and adoption, as it could spark heightened interest in digital currencies. Plot C Assuming that Plot A comes into fruition, there would be no use for Bitcoin as a peer-to-peer payment system. However, this doesn’t mean BTC becomes useless, instead, it becomes an excellent store of value. BTCUSD -4-Hour Chart Key BTC Levels to Watch in the Near-Term Bitcoin, against popular belief, doesn’t seem to be slowing down any time soon. The cryptocurrency just recorded a new YTD high at $13,357 in the past 24 hours. BTC has been trading within a consolidation range between $13,300 and $12,895 for the past four days, as traders expect a fresh bull wave. That said, as long as Bitcoin maintains its stance above the $12,895 support, we could see a fresh bull wave in the coming days. A sustained fall below the aforementioned support could trigger an extended retracement for the cryptocurrency. Total market capital: $395.4 billion Bitcoin market capital: $241 billion Bitcoin dominance: 61% Source: https://learn2.trade
  15. ETHEREUM (ETH) PRICE ANALYSIS: ETH FACES REJECTION AT $420, FLUCTUATES BETWEEN LEVELS $400 AND $420 Key Highlights Ethereum battles resistance at level $420 high The coin is likely to reach another high of $434 Ethereum (ETH) Current Statistics The current price: $415.57 Market Capitalization: $47,020,287,242 Trading Volume: $12,506,980,622 Major supply zones: $280, $320, $360 Major demand zones: $160, $140, $100 Ethereum (ETH) Price Analysis October 25, 2020 Following the breaking of the $395 overhead resistance, Ethereum resumed upside momentum. However, the coin rallied to a high of $420 and was resisted. Since October 22, the upward move has been resisted as the coin resumed a sideways trend below the resistance. On the upside, if the price breaks the current resistance, the coin will resume the uptrend. However, Ether will face another resistance at $440. The coin will rally to $480 if the current resistance is broken. ETH/USD – Daily Chart ETH Technical Indicators Reading The 21-day and 50-day SMAs are sloping upward indicating the uptrend. Ether has risen to level 65 of the Relative Strength Index period 14. It indicates that the market is in the bullish trend zone. The coin is approaching the resistance line of the ascending channel. A break above it will push the coin upward. ETH/USD – Daily Chart Conclusion Ethereum will rise after breaking the resistance at $420. The Fibonacci tool analysis has indicated an upward move to level 1.618 Fibonacci extensions. The market will reach another high of $434.55. Source: https://learn2.trade
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