ETHUSD

Its been a pump and dump situation for the crypto currency pairs. When we last reported on the ether price action . Price traded towards support level 2979.1229 . However it had failed to break past this support level and instead had been trading at level 3327.3481. During this time buyers seemed to have an edge before sellers had over powered them to push the market bearish.

ether H4 Chart 21 September 2021
ETHUSD H4 Chart 21 September 2021

Today the ether price action trades at the same level as the previous post. Is level 2979.1229 a strong level? Our analysts believe that that this level may act as a strong support level for buyers .If the daily price action close above this support this could be a could sign to take the market bullish.

However, if price breaks past this level this could expose level 2677.5105 .Potentially it could be a free fall before it possibly finds support at level 2677.5105. a confirmation from the daily close could signal the markets direction and intentions. If we have a bullish confirmation possibilities are this pair could be traded to level 3327.3481 where it may find resistance.

Ether Daily Chart 21 September 2021
XAUSD H4 chart 21 may 2020

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 risk warning before deciding to trade the markets.

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