Technical analysis ETHUSD for 04.07.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1042. The closest resistance is the level 1092

Key levels

• 1205, 1150, 1092, 1042, 995

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1042, with Take Profit of 995 and Stop Loss of 1092

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1092, with Take Profit of 1150 and Stop Loss of 1042