PRO_SMART_Trader

ETH/USDT Analysis: What are we ready for?

Long
BINANCE:ETHUSDT   Ethereum / TetherUS
ETHEREUM 2.0 is apparently launching this week!
Does Ethereum 2.0 solve scalability problems?
Ethereum 2.0 will reportedly be launched in the near future by the end of 2020. It is said that with the launch of the new version of the Ethereum network, the performance of smart contracts of this platform will be improved and there will be a possibility of increasing the price of this digital currency. However, some believe that this update will not solve the network problems in terms of high fees.

Ethereum is now more congested than ever; The field of decentralized finance (DFA) is expanding day by day and the continuous increase of fees has also affected the network. These issues have made Difa users and investors eagerly await the launch of Ethereum 2.0.
They hope that with the release of the new version of the Ethereum network, the problem of high fees will be eliminated and the network will be more stable.
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✅TECHNICAL ANALYSIS
Ethereum prices are moving in the range of an uptrend triangle. The fluctuations came as the price of that failed to break the $ 390 resistance last week. On the other hand, there is the $ 360 support that has not allowed bears to take control of the market in recent weeks.
Ethereum prices appear to have entered a stabilizing phase. The relative strength index is also in the middle range and confirms this.

As can be seen in the chart, the ascending triangle pattern is oriented towards the $ 450 target. It should be remembered that first the simple moving average of 20 periods should become a support level . The move will allow market buyers to immediately shift their focus to the $ 400 level. By breaking the $ 400 resistance, more buyers will be encouraged to buy, and by creating more trades, the next targets will be $ 420 and then
$ 500.

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👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades.

Comments

Good setup, especially with a demand increase, thanks for sharing.
+5 Reply
PRO_SMART_Trader VincePrince
@VincePrince, ok .tanx for your feedback!
Reply
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