empty
 
 
31.10.2023 10:55 AM
Ethereum retesting buyers

Ethereum is trading in the red at 1,791 at the time of writing. In the short term, the rate continues to challenge the immediate downside obstacles. The upside pressure remains high as Bitcoin maintains a bullish bias.

ETH/USD dropped by 2.35% from yesterday's high of 1,830 to 1,787 today's low. The altcoin is down by 1.04% in the last 7 days and is up by 0.16% in the last 24 hours.

ETH/USD Consolidates Latest Gains!

This image is no longer relevant

From the technical point of view, ETH/USD is trapped between 1,854 and 1,757 levels. Now, it is challenging the median line (ml) which represents a dynamic support.

The false breakdown with great separation below 1,757 announced strong buyers. Still, further growth needs strong confirmation.

ETH/USD Forecast!

Staying above the median line (ml) and making a valid breakout through 1,854 activates further growth. This is seen as a buying opportunity.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Ralph Shedler
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback