ETHUSD price forecast bullish while traders’ sentiment deteriorated
Technical Analysis Summary ETHUSD: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(200) | Sell | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
The ETHUSD technical analysis of the price chart on 1-hour timeframe shows ETHUSD: H1 is retracing up toward the 200-period moving average MA(200) after hitting 14-month low yesterday. We believe the bullish momentum will continue after the price breaches above 2133.11. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 1990.39. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of -
Traders reduced their bullish bets recently according to crypto trading platforms data. Will the ETHUSD price continue rebounding?
In the aftermath of 29% plunge in Ether price since March 11 to a $1,700 low, professional traders reduced their bullish bets, according to the long-to-short indicator data from crypto trading platforms. Deteriorating trader sentiment is bearish for asset price. However, the current setup is bullish for ETHUSD.