Daily Price Outlook

• SEC targets Binance and Coinbase, causing market decline
• Ethereum faces downward pressure, trading between $1860 and $1830
• Watch out for the crucial $1830 level, as Ethereum may drop towards $1800 or even lower to $1775 or $1760.

The SEC is on a mission, targeting Binance and Coinbase, and the market took a tumble. Poor Ethereum couldn’t escape the downward pressure and is now bouncing between $1860 and $1830. The technical indicators are definitely feeling bearish vibes.

The 50-day moving average is putting up a fight at $1854, suggesting more potential downside. And guess what? The RSI and MACD indicators are joining the bear party too.

Watch out for that crucial $1830 level! If it breaks, Ethereum could take a plunge towards $1800. And if it falls below that psychological level, brace yourself for a wild ride towards $1775 or even $1760. Keep an eye on those charts

ETH/USD Price Chart – Source: Tradingview

ETH/USD – Trade Idea

Entry Price – Sell Stop1824

Stop Loss – 1861.4

Take Profit – 1782.9

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$41.9/ -$36.6

Daily Price Outlook

• Bitcoin has found support around the $26,200 level, as indicated by the formation of doji and hammer candles.
• The $26,200 level is being reinforced as strong support for Bitcoin.
• The 50-day exponential moving average is acting as resistance near $26,500, creating additional pressure on Bitcoin.

Bitcoin has found a level of support around $26,200, as evidenced by the formation of doji and hammer candles. This suggests a possible weakening of the bearish sentiment and signs of exhaustion among sellers.

The $26,200 level is solidifying as strong support for Bitcoin. However, there is a discrepancy between the RSI and MACD indicators, with the RSI in the oversold zone and the MACD indicating a buy zone.

Bitcoin is facing resistance near the $26,500 mark, primarily due to the presence of the 50-day exponential moving average. This resistance is putting additional pressure on Bitcoin’s price, making it advisable to wait for a breakout from the current trading range.

If the price breaks below the $26,200 level, it could result in further downward movement, potentially reaching the $25,400 mark.

Conversely, a confirmed breakout from the current range could create selling opportunities, with a potential target around $24,750.

On a positive note, if Bitcoin manages to hold above $26,200, it could set its sights on resistance levels at $26,000 and $27,400. Breaking through the resistance at $26,500 is crucial for further upward movement.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Idea

Entry Price – Buy Limit 26177

Stop Loss – 25791

Take Profit – 27360

Risk to Reward – 1: 3

Profit & Loss Per Standard Lot = +$1183/ -$386

Profit & Loss Per Micro Lot = +$118/ -$386

Daily Price Outlook

• Ethereum’s price has dropped to $1,824, following Bitcoin’s bearish trend.
• The 50-day moving average suggests potential support around $1,835.
• Bearish indicators such as the RSI and MACD indicate a downward sentiment, urging investors to monitor the $1,835 level for further downside potential.

Ethereum, the second-largest cryptocurrency, has mirrored Bitcoin’s bearish trend, with its price dropping to $1,824. The 50-day moving average on both daily and hourly timeframes suggests potential support around $1,835. A bearish engulfing candle further confirms the downward trend, indicating seller dominance and weakening buyer activity.

Downside potential indicates a possible target of $1,810, with the hourly trendline extending to the psychological level of $1,800. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are currently in the bearish zone, with RSI below 50 and MACD below zero, reflecting a bearish sentiment.

Investors should closely monitor the $1,835 level as a break below it could lead to further downside momentum, potentially testing support levels at $1,800 or $1,885. On the upside, if Ethereum surpasses $1,835 and reaches $1,838, resistance levels at $1,850 or $1,875 may come into play.

ETH/USD Price Chart – Source: Tradingview

ETH/USD - Trade Idea

Entry Price – Sell Below 1830

Stop Loss – 1840

Take Profit – 1795

Risk to Reward – 1 : 3.5

Profit & Loss Per Standard Lot = +$350/ -$100

Profit & Loss Per Micro Lot = +$35/ -$10

Daily Price Outlook

Ethereum's price rallied above the $2,000 resistance against the US dollar, surging over 10% with the potential to reach $2,200. After settling above the $1,900 resistance zone, Ethereum crossed a significant contracting triangle with resistance around $1,925 on the ETH/USD hourly chart.

Consequently, bulls took control, pushing the price above $2,000 and triggering a bullish wave up to $2,080. Bitcoin lags but later breaks the $30,250 resistance and moves toward $31,000.

Currently, Ether is trading above $2,000 and the 100-hourly Simple Moving Average. Immediate resistance lies around $2,120, with the next significant resistance at $2,150. A close above this level could trigger another surge, potentially targeting the $2,200 and $2,350 resistance levels.

If Ethereum fails to clear the $2,120 resistance, a downside correction could occur, with initial support near $2,080. The next significant support is around the $2,000 zone or the 50% Fib retracement level of the upward move from $1,855 to $2,130. A decline below this level might push Ether towards $1,960, with the primary support forming near $1,925 and $1,900.

ETH/USD Trade Idea

Entry Price – Sell Below $2160

Stop Loss – $2200

Take Profit – $2025

Risk to Reward – 1: 3

Profit & Loss Per Standard Lot = +$122/ -$36

Profit & Loss Per Micro Lot = +$12.2/ -$3.6

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