ETHUSD Analysis, ETHUSD Signals And Online Chart

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ETH/USD is the second most popular cryptocurrency pair, trailing only behind BTC. Ethereum serves as a platform for decentralized applications. After transitioning to the PoS algorithm, the network became more attractive to developers thanks to the introduction of scalability solutions. The ETH/USD pair is suitable for long-term investment due to growth prospects, moderate volatility, and high liquidity.

Traders Union offers daily ETH/USD analysis and signals provided by our analyst Anton Kharitonov. Additionally, on this page, you can access indicator-based weekly and monthly price forecasts, as well as an ETH/USD online Forex chart to keep track of the current trend.

Disclaimer:

This article does not contain recommendations for buying or selling cryptocurrencies. The ETH/USD forecast and signals are made on the basis of independent assessments as of the moment. Please consider the risks when making an investment decision.

Disclaimer

Disclaimer

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ETHUSD daily analysis and signals

Traders Union offers daily ETH/USD analysis and signals, presented by the leading Forex analyst Anton Kharitonov, as well as other experienced analysts. The ETH/USD analysis is based on a combination of current fundamental data, news, and technical analysis, providing traders and investors with valuable and well-informed insights.

ETH/USD is declining amid liquidation of long positions

01.05.2024
After breaking the $3,300 resistance level, Ethereum bulls tested the $3,354 mark. However, since Bitcoin didn't make much progress, people started selling Ethereum at this level, which made its price drop to $2,825 support. The strengthening of the U.S. dollar and the development of Bitcoin correction may contribute to further declines in ETH/USD, where the nearest $2,750 support level could be tested. Breaking $3,025 resistance will lead to a growth toward $3,075-3,100, where bearish activity could resume.

ETH/USD is declining amid liquidation of long positions

Indicator-based ETH/USD signals

ETH/USD indicator-based signals are prepared automatically on the basis of technical analysis of moving averages and indicators for each timeframe (interval) separately. Select the timeframe you need to find out ETH/USD signals.

NOTE!

Signals may differ on different timeframes. If you want to hold the ETH/USD for longer than 1 week/1 month, it is best to use the signals on daily and weekly timeframes. Timeframes from 5 minutes to 1 hour are best suitable for short-term transactions.

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ETH/USD chart online

ETH/USD Buy and Sell signals

Methodology

The following tools and instruments were used for making the prediction:


Basic instruments of technical analysis. The forecast relies on basic technical indicators. The analysis was performed mostly on medium and long-term time frames for more accurate results.

Chart analysis. Analysis comprises a review of key levels of support, resistance, trend lines, as well as patterns formed on different time frames.

Statistical tools help evaluate a probability of a fundamental factor that could impact the price, its nature and intensity of impact.

Methods of mathematical and statistical analysis; modeling, adaptive forecasting methods.

Expert opinions and consensus forecast.

NOTE!

This forecast is based on current information and data of previous periods. Emergence of strong fundamental factors capable of radically changing the overall market trend and subsequent price trend is possible. The forecasts are updated regularly based on the latest data.

This article is created for informational purposes only and does not constitute investment advice. Be aware of the high volatility of cryptocurrencies and consider these risks when making investment decisions.

FAQs

Is Ethereum up or down today?

The direction of ETH/USD price movement changes constantly within a day. To determine the direction of the trend, consider influential fundamental factors and bounces from support or resistance levels.

Is Ethereum a buy, sell or hold?

Holding ETH makes sense for long-term prospects. In short-term strategies, you can profit from price movements in both directions.

Is it ok to buy ETH now?

If there are fundamental factors supporting ETH and the coin is near its lows while bouncing off a support level, then buying Ethereum makes sense.

Can ETH reach $100,000?

In the next few years, this is rather unlikely.

Team that worked on the article

Andrey Mastykin
Author, Financial Expert at Traders Union

Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.

He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.

Olga Shendetskaya
Author and editor at Traders Union

Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.

Mirjan Hipolito
Cryptocurrency and stock expert

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).