ETHUSD Analysis: risk sentiment boosts Ethereum
Fundamental Analysis of ETHUSD
ETHUSD Key Takeaways
- Fed rate cut expectations: Investors are paying attention to the Fed’s interest rate decision. The market expects that in the contradiction between the trade war and strong employment data, the Fed may continue to wait and see, and postpone the first rate cut to July, and expect only three rate cuts before the end of the year, instead of the four expected a week ago.
- China-US talks hope: At the invitation of the Swiss government, Vice Premier He Lifeng will visit Switzerland to hold talks with Swiss leaders and relevant parties. During the visit to Switzerland, Vice Premier He Lifeng, as the Chinese leader of China-US economic and trade, will hold talks with the US leader, US Treasury Secretary Bensont. The news of the Sino-US economic and trade talks has greatly boosted risk appetite.Technical Analysis of ETHUSD
ETHUSD Daily Chart Insights
- Stochastic oscillator: The indicator once again sends a short signal in the overbought area. Based on the overall market price fluctuations, if the market price falls below the key price, the upward trend will end. On the contrary, there is a probability of rapid decline in the short term and reversal after a false breakthrough.
- Key price: The purple 13-day moving average and 1746.40 are important overlapping support prices. If it falls below $1576, Ethereum’s recent rise will be hindered. The first target above is near the black 65-day moving average, and the second target is near 2104, the starting point of the downward trend in the previous stage.
ETHUSD 2-hour Chart Analysis
- Stochastic oscillator: The indicator sends a bullish signal in the oversold area, suggesting that the market price has the upper hand in the short term, but whether to go long requires attention to whether the market price can break through the downward trend line.
- Support area: 1730 below the market price is the key horizontal support price, and it is also near the trend line of the recent upward trend. The combined support price means that there is a probability of rebound when the exchange rate encounters resistance, and the short-term trading strategy needs to be based on shock trading.
ETHUSD Pivot Indicator
According to the trading central in Ultima Markets APP, the central price of the day is established at 1749,
Bullish Scenario: Bullish sentiment prevails above 1749, first target 1850, second target 1879;
Bearish Outlook: In a bearish scenario below 1749, first target 1700, second target 1671.
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