empty
 
 
30.07.2021 09:29 AM
Technical Analysis of ETH/USD for July 30, 2021

Crypto Industry News:

One of the most popular icons of mass culture will emit NFT, the proceeds of which will be donated to charity. It is a brand of carbonated drink Coca-Cola, which NFT will be able to bid on OpenSea.

Coca-Cola has decided to launch a collection of digital collectors in connection with this year's International Friendship Day, which falls on Friday 30 July. Then, an auction of special "Friendship Boxes" will start at OpenSea, which will last for three days. Tafi, who has experience in creating digital clothes and avatars, and the Virtue agency are responsible for designing the NFT.

Those who manage to bid on the NFT Coca-Cola will receive, among other things, the sounds characteristic of the drink (including the sound of the bottle being opened) and a special jacket that they will be able to wear in the digital world of Decentraland. The income obtained from the sale of non-exchangeable tokens will be donated to the Special Olympics organization, with which the producer of the carbonated drink has been cooperating for many years.

Technical Market Outlook:

The ETH/USD pair has made another local high at the level of $2,453 (at the time of writing the analysis) and keeps going higher. The high looks like a Pin Bar candlestick formation, so a pull-back towards the immediate technical support at the level of $2,336 is possible. The pair keeps trading inside the channel, but if the momentum will keep going up, then the next target for bulls is seen at the level of $2,549. In order to continue the rally, bulls need to break through the level of $2,453. The key short-term support is seen at the level of $2,201 and $2,106.

Weekly Pivot Points:

WR3 - $2,880

WR2 - $2,525

WR1 - $2,386

Weekly Pivot - $2,056

WS1 - $1,1912

WS2 - $1,571

WS3 - $1,423

Trading Recommendations:

Ethereum might have started the next wave up as the next long-term target for bulls is seen at the level of $3,000. Nevertheless, in order to resume the long-term up trend, bulls have to break through the last swing high seen at the level of $2,880. The level of $1,728 (61% Fibonacci retracement of the last big impulsive wave up) is still the key support for bulls.

This image is no longer relevant

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
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback