Technical analysis ETHUSDT for 11.07.2023

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 1734.90. The closest support is the level 1572.30

Key levels

• 1816.80, 1734.90, 1572.30, 1488.10, 1405.20

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1734.90, with Take Profit of 1816.80 and Stop Loss of 1654.70

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1572.30, with Take Profit of 1488.10 and Stop Loss of 1654.70