Banking risks may increase demand for cryptocurrencies
Technical Analysis Summary ETHUSD: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| MA(200) | Neutral | |
| Fractals | Neutral | |
| Parabolic SAR | Buy | |
| Bollinger Bands | Neutral |
Chart Analysis
On the daily timeframe, ETHUSD: D1 is in a long-term upward channel. It moves towards its upper border. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if ETHUSD: D1 rises above the last high and upper Bollinger band: 1850. This level can be used as an entry point. The initial risk limit is possible below the last lower fractal, 200-day moving average line, Parabolic signal and lower Bollinger line: 1350. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (1350) without activating the order (1850), it is recommended to delete the order: the market is undergoing internal changes that were not taken into account.
Fundamental Analysis of -
Problems in the global banking system may increase the demand for cryptocurrencies. Will ETHUSD quotes continue to rise?
Earlier, the American Silicon Valley Bank and Signature Bank announced financial difficulties, and later the Swiss bank Credit Suisse joined them. Theoretically, this may indicate some problems in the entire global banking system. In this situation, an increase in demand for cryptocurrencies is not excluded.