Technical analysis ETHUSDT for 01.09.2023

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 1709.80. The closest support is the level 1596.30

Key levels

• 1794.70, 1709.80, 1596.30, 1510.20, 1423.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1709.80, with Take Profit of 1794.70 and Stop Loss of 1654.80

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1596.30, with Take Profit of 1510.20 and Stop Loss of 1654.80