Technical analysis ETHUSDT for 07.08.2023

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 1820. The closest resistance is the level 1836

Key levels

• 1864, 1847, 1836, 1820, 1807

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 1836, with Take Profit of 1820 and Stop Loss of 1847

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1847, with Take Profit of 1864 and Stop Loss of 1836