FxWirePro – Ethereum Daily Outlook

ETH prices were flat amid mixed market sentiment.

It is above important support levels at $1703-1833 (200 and 55 day moving averages).

ETHUSD has fluctuated within a narrow range between $1737 and $1872 for the past ten days. The lack of progress in U.S. debt talks between the U.S. president and McGrathy has prevented further gains in the cryptocurrency market. It hit an intraday high of $1872 and is currently trading around $1815.

Today’s main economic data

24 May 2023, FOMC Minutes (6pm GMT)

A bullish invalidation could occur if the pair closes below $1,570. On the downside, the near-term support is at $1,735. Any break below targets $1660/$1570/$1365. If it breaks above $800, there will be a clear downtrend.

Immediate resistance is around $1960. A breakout of any of the above would confirm a minor pullback. A jump to $1973/$2030 is possible. A surge above $2050 would take ETH to $2294/$2500.

Best to buy the dip around $1750 with a stop around $1650 and a target of $2400/$2500.

Source of information: Compiled from ECONOTIMES by 0x Information.Copyright belongs to the author, without permission, may not be reproduced

0X simplified Chinese version:FxWirePro – Ethereum Daily Outlook

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