Technical analysis ETHUSDT for 24.08.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1731.50. The closest support is the level 1568.40

Key levels

• 1816.70, 1731.50, 1568.40, 1479.00, 1394.80

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1731.50, with Take Profit of 1816.70 and Stop Loss of 1654.80

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1568.40, with Take Profit of 1479.00 and Stop Loss of 1654.80