Eth on daily time frame with supp resis & fib retrace

25 ก.พ. 2023

On the daily timeframe, I analyzed ETH's price action using support, resistance, and Fibonacci retracements. Currently, ETH is finding support near the 50-day moving average and near the support level of $1554. If it breaks below this level, the next support level is at the Fibonacci value of 0.382, around $1490. The next Fibonacci value of 0.5 is at $1402. On the upside, there is resistance near $1718 and $1909. By looking at the chart, you can see the 20-day moving average (green), the 50-day moving average (yellow), and the 200-day moving average (red).

Note: Technical analysis can be a helpful tool for traders, but it's important to remember that the market can be unpredictable, and past performance does not guarantee future results. Always use proper risk management and keep up-to-date with market news and events that may impact your trades.