empty
19.05.2021 12:27 PM
Trading plan for Ethereum for May 19, 2021

This image is no longer relevant

Technical outlook:

Ethereum has reversed from above $4,200 levels as discussed earlier. The crypto is soon approaching its projected targets towards $2,750-2,800 levels, which is also fibonacci 0.382 retracement of the entire rally between $90 and $4,250 levels respectively. Traders are advised to prepare taking profits in short positions taken earlier now.

Ethereum is seen to be trading at around $2,900 levels at this point in writing and is expected to find support around $2,750/2,800 zone soon. Thereafter, we can expect a turn again as bulls might remain inclined to push through the next high. Immediate support is seen at $2,750, while resistance is around $3,400 levels respectively.

The overall trend remains bullish in Ethereum, as the trend line remains intact. Only a break below $1,300 levels would be a concern and change the trend to bearish. Watch out for support around $2,700/2,800 levels for the uptrend to resume and probably print new highs above $4,250 levels, going forward.

Trading plan:

Book profits on short positions taken earlier. Aggressive traders remain long with stop @ 2,000, target above @ 4,250.

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

BTC/USD Analysis on April 29, 2025

The wave pattern on the 4-hour chart of the BTC/USD has become somewhat more complex. We observed a corrective downward structure that completed its formation around the $75,000 mark. After

Chin Zhao 11:30 2025-04-29 UTC+2

$200,000 for Bitcoin by Year-End

While Bitcoin is still struggling to break through the $95,000 level — despite all the conditions being in place — Standard Chartered believes that in the second quarter, the leading

Jakub Novak 11:09 2025-04-29 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 29

Bitcoin and Ethereum Buyers Are Trying to Control the Market — and So Far, They're Doing Quite Well However, it's important to note that the longer we remain below $95,000

Miroslaw Bawulski 08:51 2025-04-29 UTC+2

Bitcoin at the Start of a New Rally: When to Expect $120,000 and Beyond

After a week full of turbulence, the cryptocurrency market seems to have taken a deep breath. The Fear and Greed Index has been recorded at 51 — a rare neutral

Ekaterina Kiseleva 01:15 2025-04-29 UTC+2

XRP futures to launch on May 19

Over the weekend, Bitcoin experienced a brief dip but soon returned to the $94,000 level. Ether also faced some pressure, but managed to hold its ground. Surprisingly, XRP saw only

Jakub Novak 16:14 2025-04-28 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 28

Bitcoin is being pressured, but it still holds up quite confidently. After rebounding from the $92,000 mark, the first cryptocurrency returned to the $94,000 area, maintaining good growth prospects

Miroslaw Bawulski 08:19 2025-04-28 UTC+2

Bitcoin – Technical Situation Analysis

Currently, bullish players are attempting to change the situation and achieve bullish optimism for April. Last week, resistance at the final level of the weekly Ichimoku cross (93344) was tested

Evangelos Poulakis 03:51 2025-04-28 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 25

Yesterday's unsuccessful attempt to stay above $94,000 demonstrates that there is still significant buying interest. Ethereum is also holding up quite well, although yesterday's correction during the European session likely

Miroslaw Bawulski 08:56 2025-04-25 UTC+2

Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 25, 2025.

With the condition of the Stochastic Oscillator indicator which is already above the Overbought level (80) even though it is currently still moving above the WMA (30 Shift 2) which

Arief Makmur 07:02 2025-04-25 UTC+2

Technical Analysis of Intraday Price Movement of Solana Cryptocurrency, Friday April 25, 2025.

Although currently the Solana cryptocurrency is moving in a strengthening condition which is indicated by its price movement moving above the WMA (30 Shift 2) but with the appearance

Arief Makmur 07:02 2025-04-25 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.