Investors analayzing technical chart

ETHUSD technical analysis – 22 july 2020

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hourly chart analysis

ETHUSD 1 hour chart
Figure 1: bigX web trader, H1 chart

Key Points

  • The H1 chart should be used for short term trading position entry and exit
  • Price has jumped towards a resistance level at 247
  • This demonstrates the support level at 237 help up well

four hourly analysis

ETHUSD 4H chart analysis
Figure 2: bigX web trader, Four Hourly Chart

Key Points

  • In our previous H4 analysis we demonstrated the price was slowly creeping up
  • This has continued several weeks on
  • We are now at a resistance level and will need to see what the support levels could be for potential entries and long term resistance levels for exits (if considering buys)
  • Currently, any sells would be quick wins as the price is supported quite strong for a while
  • Let us consider the longer term time frame as this is respected well

daily analysis

ETHUSD daily chart
Figure 3: bigX web trader daily chart

Key Points

  • The D1 chart shows clearly how well respected this support channel has been
  • This demonstrates slow strength of the price
  • There is a trajectory towards the longer term resistance of 276
  • Keep an eye out for any downward breaks of this support channel
  • If we see significant candle bodies below this support level we could see strong movement towards 200
  • Overall this remains a bullish trend for now