ETHUSD

Our last report for the ETHUSD price action was on the 1st of December. During that time price traded at level 603.78802 .In that post we spoke about the probabilities of a bullish move .The link below can be used as reference for the previous post.( https://fxsits.com/ethereum-price-continues-bullish-movement/ )

ETHUSD Daily chart 13 january 2020
ETHUSD Daily chart 13 january 2020

Since then price has soared bullish to levels as high as 1339.072 .This level is currently our 2021 high , which is a few pips away from the all time high. Looking at the chart you may notice how the ETHUSD price action has retraced from its higher high. However price stills shows bullish price action and possibilities of still soaring bullish.

Today price currently trades at level 1083.7707 after dropping as low as Level 950.19351 where it found support. Before slowly regaining bullish momentum. We tend to ask a question will price continue its bullish price action or could we see price further plummet bearish.

ETHUSD H4 chart 13 january 2020
ETHUSD H4 chart 13 january 2020

Our analysts believe that price could trade in between level 950.19351 and level 1288.7427 for the rest of the month. This areas will be our new range bound market before price continues its old bullish plans.

NB: Warning Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consider position sizing before entering a trade and manage your risk accordingly. Please read the risk warning before deciding to trade the markets.

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