ETH/USD has produced a solid upwards climb the past day of trading and has touched the 1900.00 level in early trading today.

As of this writing ETH/USD is near the 1885.00 ratio and for the moment producing rather calm trading action. Obviously that could change in a heartbeat, and traders are urged to compare these musings to the market price as you begin to engage thoughts about speculating on Ethereum. The move upwards since the 13^th of July when ETH/USD was trading near the 1000.00 has been strong. Traders who have had the misfortune to be betting against ETH/USD the past four weeks have likely been hurt.

Four Weeks of Gains However Doesn’t Mean Dangerous Selloffs have disappeared

As speculators seemingly climb above the cryptocurrency bus again, and buy ETH/USD and BTC/USD they may be dreaming of large paydays once again. Day traders who are pursuing ETH/USD and not holding their wagers overnight however, may be facing a more difficult task unless they manage to ignite their positions quickly and are able to cash out winnings with selected take profit targets. ETH/USD was trading a low of nearly 1658.00 yesterday, this after achieving a high of nearly 1795.00 on the 9^th of August. Sudden volatility remains a staple of cryptocurrency speculation.

• The ability to surpass the 1900.00 level was significant earlier today, now speculators who are cautious will want to see ETH/USD sustain this vicinity.
• Traders are cautioned to use their risk management wisely to battle against sudden movements which are certain to occur.

Currently ETH/USD is challenging resistance last seen in the first week of June. Bullish cryptocurrency traders who have survived the long term bearish trend are likely celebrating their victory achieved the past four weeks of upside price momentum. This while skeptics may be looking at ETH/USD and be suspicious of a ‘bear trap’, meaning they are worried about being enticed to buy into the upwards trajectory which has been demonstrated, only to suffer a strong selloff via reignited nervous behavioral sentiment in the cryptocurrency sphere.

Can ETH/USD Climb above 2000.00 in the short term for Speculative Buyers?

Yes, ETH/USD can continue to climb and find enough buyers to propel it upwards and prove current resistance levels are only road signs to be ignored.  However, there is also a vivid chance ETH/USD could propel itself downwards again with a lightning bolt. If ETH/USD is able to sustain its current price ratio above the 1875.00 level it may appear attractive for a short term wager upwards. However – there are two however warnings in this last paragraph – price action in ETH/USD can change swiftly and if a downturn generates steam, support near the 1870.00 to the 1825.00 marks should be watched carefully. A move below 1800.00 that becomes sustained could wake up bearish traders.

Ethereum Short-Term Outlook

Current Resistance: 1910.00

Current Support: 1869.00

High Target: 2006.00

Low Target: 1756.00

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The past few days of trading have seen ETH/USD falter as speculative resistance has proven durable and an erosion of value threatens again.

ETH/USD is trading near important support levels and speculative zeal looking for upside may be running out of power.  After hitting a high of nearly 1275.00 on the 8^th of July, the past few days of trading for Ethereum has seen the cryptocurrency taken a hit and as of this morning ETH/USD is trading near 1145.00 as of this writing.

Speculative Zeal in Question after Failure to Sustain Values this Weekend

A speculative flurry across the board within the major cryptocurrencies began to falter before heading into last weekend, and trading early today has continued to see ETH/USD, among others, fail to reverse higher. Within the depths of the long-term bearish trend that has been pounding away at the value of ETH/USD, traders could not be blamed for believing last week may have been the beginning of an upwards turnaround. However, behavioral sentiment within ETH/USD has yet to prove that it has the capability to produce a significant move higher which will overcome resistance levels easily.

• Major resistance levels remain durable and the 1300.00 mark has proven unattainable yet.
• Until the 1250.00 can prove it is sustainable traders may remain skeptical and bearish.

ETH/USD remains a keen barometer of the health of the cryptocurrency marketplace. Certainly, many traders like to watch the results of Bitcoin, but Ethereum is a cornerstone for blockchain technology and infrastructure. The inability of ETH/USD to climb above the 1250.00 level and maintain this value remains a concern for the broad market. In fact, the inability of Ethereum to climb above 1200.00 should be watched closely now.

A Slide Below 1100.00 would be a Bearish Indicator

If ETH/USD fails to climb above the seemingly rather simple mark of 1175.00 in the short term, this could spark the feeling that Ethereum is ready to slide more.  Skeptical traders who have been earning profits to the downside may be watching the 1150.00 at this time as an important juncture, if this value is not toppled more downside momentum could be considered and ignite selling wagers which seek technical support levels near 1125.00 and 1100.00 for speculative bets.

The failure of ETH/USD to maintain its short-term drive upwards sets the table for a return to bearish price action, if values fail to climb in the near term.  A fall below the 1100.00 level would be considered a bearish indicator by many speculators and a signal that more potential falls in value could be demonstrated sooner rather than later.

Ethereum Short-Term Outlook

Current Resistance: 1172.00

Current Support: 1128.00

High Target: 1254.00

Low Target: 1054.00

The USD/BRL will begin trading today near mid-term highs and speculators may feel enticed to wager on direction, but they should be careful.

When the USD/BRL begins to trade today it may experience a spike which is often the case with the currency pair.  Upon the return of U.S financial institutions today from their long holiday weekend, fuller trading volumes will certainly be experienced, and this could alter the behavioral sentiment which has been seen in the USD/BRL the last two trading days momentarily.  

The USD/BRL has been consistently moving higher since late May. The heights reached by the USD/BRL the past two days of trading are testing values not seen since early February of this year. It should be noted on the 4^th of February the USD/BRL tested the 5.35000 juncture briefly.

The USD/BRL provides speculators with rather consistent trends, but they often prove to be volatile particularly when the Forex market is opening for trading. Spikes up and down are commonplace, and traders who are brave enough to hold positions of the USD/BRL overnight must be prepared for rather swift moves during the early hours of trading days.

Today’s conditions are likely going to prove rather volatile as increased transactions are delivered into the USD/BRL. The past two days of trading have seen new highs and the question is if there will be a slight selling correction this morning, or if the incremental steps higher will continue to flourish.

If the USD/BRL breaks above the 5.33000 level with relative ease this morning and sustains prices above in the ensuing hours it could point to additional higher values to come.  Traders who can use take profit ratios near resistance levels they perceive as durable may want to cash out of winning positions if they materialize.

The potential for a slight countermove lower early this morning, or later during the day when the USD/BRL is experiencing full volume should be anticipated. Traders who want to look for lower moves from the current heights of the USD/BRL should keep their targets realistic and not become overly ambitious. Support levels near the 5.31750 mark should be watched, choppy conditions were seen yesterday and a low of about 5.28690 was seen briefly.

Traders need to be prepared for rather fast trading in the early hours of the USD/BRL today. However, after the dusts settles and volatility eases, speculators may believe that wagers on incremental upside potential based on the mid-term bullish trend with quick hitting take profit orders may be worthwhile.

Brazilian Real Short-Term Outlook

Current Resistance:  5.3311

Current Support:  5.3147

High Target: 5.3399

Low Target:  5.2955

ETH/USD has been a large part of the crash within the cryptocurrency market and while current support puts up a fight, lower values may be awaiting speculators.

Unless you have crawled out of a cave this morning and have had no mobile telephone internet service, you likely know that ETH/USD has produced a rather disruptive and downward couple of days as its value has sunk.  Ethereum along with the broad cryptocurrency market has slid to long term lows and the bearish trend which has engulfed ETH/USD may not be over yet.

Speculators who dare to consider upwards reversals may exist, but the bigger question may be why? Yes, higher moves certainly still happen in ETH/USD, but wagering on upside momentum to generate while the present conditions near term stir may be like playing with fire.

For those interested in upside the current 1235.00 level although it is extremely close should be watched. If a move occurs which takes ETH/USD over this juncture and sustains the action, Ethereum could then certainly challenge slightly higher altitudes. However these climbs may not prove to hold and erosion of value may detonate at any moment leaving no floor.

Traders who are still active and want to continue wagering on further price movement lower cannot be blamed.  If a speculator can ignite a selling position using current resistance levels as a place to launch shorts this may prove an opportunity to participate in ETH/USD. However traders need to understand the market is extremely volatile, even if a trader claims to know this, it may be important to repeat this mantra as the day progresses. The use of risk management is essential.

If the 1200.00 level fails to hold back the downward tide again in the short term, traders may target nearby marks which have already been flirted with in the past hours.  ETH/USD did hit a low of nearly 1066.00 a handful of hours ago and speculators may want to aim for this target. However, traders are advised not to be overly ambitious under the present conditions. Choppy results are likely to be abundant and profits should be cashed in when they are achieved with successful moves.

Wagering on ETH/USD should be done with great amounts of care today. The cryptocurrency market has produced significant downward results, but always threatens to shake upwards for a while. Ethereum has experienced a whirlwind of declines and new lows may be seen in the near term.

Ethereum Short Term Outlook:

Current Resistance: 1235.00

Current Support: 1127.00

High Target: 1301.00

Low Target: 970.00

DOGE/USD remains within the lower elements of its long-term trading range, and its slight fluctuations in value can produce big betting results for gamblers.

DOGE/USD has no utilitarian necessity in the cryptocurrency world, except it acts as an excellent way to gauge sentiment among speculators and as a betting device.  Trading volumes have dropped substantially in Dogecoin, and this is an important signal that a large amount of bettors who have been drawn to DOGE/USD in the past may not have the extra cash needed anymore to wager on its results.

DOGE/USD has been trading under the 10 cents mark since the 11^th of May, and there are few signals which suggest Dogecoin is suddenly going to burst higher and climb above this mark in the short term.  As of this writing DOGE/USD is trading slightly below the 8 and a half cent mark.  Dogecoin is traversing prices that it has not sincerely traded since the first week of April in 2021.

If Dogecoin were to sink lower and move to the remarkable price of six cents it would then be trading values seen in March of 2021. Intriguingly, DOGE/USD has not hit values which were demonstrated before its exuberant rampage higher started in December of 2020 and January 2021, this when DOGE/USD was trading for essentially less than a cent.

On the 26^th of May, DOGE/USD did hit the 7 and half cent mark before exhibiting a reversal higher which than managed to very briefly hit the 9 cents level on the 27^th.  Technically interesting is that during the flourish higher a few days ago, DOGE/USD witnessed a sincere amount of trading near the 8 and half cents mark which has become resistance.  

Speculators who believe upside momentum can be attained should keep their goals realistic and perhaps not aim for massive moves higher. The use of take profit orders to cash out sudden winnings if they emerge is highly recommended. Fractional moves in DOGE/USD can produce massive results depending on the amount of leverage used, these results can be costly too if the market goes against the speculator’s chosen direction. Looking for values above 9 cents for the moment may be unrealistic.

The broad cryptocurrency market remains in a bearish long term trend, and betting against this downward momentum can prove dangerous. Speculators looking for headwinds to continue and who wager on further declines cannot be blamed. If the 8 and half cents mark for DOGE/USD cannot be toppled and sustained, there is reason to suspect the 8 cents level could become a target and possibly vulnerable near term.

Dogecoin Short-Term Outlook

Current Resistance: 0.08690000

Current Support: 0.08270000

High Target: 0.08880000

Low Target: 0.07860000

AVAX/USD was able to produce some gains over the weekend, but in early trading today has reversed slightly lower as fragile trading conditions prevail.

AVAX/USD is trading within the lower part of its long term range, but unlike many of its major counterparts Avalanche has not slumped to lower values that it traded in July of 2021. Yes, AVAX/USD has certainly lost plenty of value. On the 1^st of April Avalanche was trading above the 100.00000000 juncture. On the 12^th of May AVAX/USD approached the 22.00000000 level as nervous sentiment turned into widespread panic as the broad cryptocurrency market suffered a sea of losses last week.

However, on the 20^th of July 2021 AVAX/USD was trading slightly below 10.00000000. Yes, Avalanche was a relatively new cryptocurrency in the spring of last year and was enjoying plenty of attention from influencers who helped talk Avalanche higher. On the 10^th of February 2021, AVAX/USD was trading near the 55.00000000 mark. The broad cryptocurrency market remains extremely volatile and Avalanche is part of the nervous pack.

Even though there has been a slight recovery among most of the major cryptocurrencies, the word ‘slight’ is highlighted.  Technical traders may be eyeing the current price of AVAX/USD and believe it has been vastly oversold and in the future long-term they may be proven correct. However, for day traders who witnessed last week’s bloodbath, caution may be an instinctive survival mode. Conservative wagers should be considered by speculators in the immediate days ahead.

If AVAX/USD can sustain its current price above the 34.00000000 mark and challenge the 35.00000000 ratio, this may attract short term traders who believe a push higher towards the 36.00000000 ratio can be demonstrated quickly.  Trading conditions will remain volatile today and in the near term, nervous market conditions will likely continue to be seen as speculative forces try to establish equilibrium in the financial markets.

Unfortunately the past couple of weeks of trading have displayed few signs of a tranquil market place. Momentum traders may be looking at AVAX/USD and believe it has further room to roam downward. If short term anxiety suddenly becomes more pronounced and nervous trading hits the broad digital asset sphere, Avalanche could certainly see its bearish trend flourish again.

If support levels which are nearby around the 33.5000000 begin to see a challenge and the 33.00000000 ratio falters, this could be a negative signal and selling could become stronger. Any move back below the 30.00000000 juncture for AVAX/USD could spur on another wave of aggressive selling if holders of Avalanche lose additional confidence in the cryptocurrency.

Avalanche Short Term Outlook:

Current Resistance: 35.39000000

Current Support: 33.25000000

High Target: 38.87000000

Low Target: 27.06000000

ETH/USD has taken a negative turn the past two days of trading, and positive sentiment which had been building in the cryptocurrency markets will now be tested.

ETH/USD has taken a quick turn lower the past two days of trading after challenging important mid-term resistance levels above.  On the 3^rd, 4^th and 5^th of April ETH/USD flirted with the 3600.00 ratio which threatened to touch early January marks and could have ignited another bullish leg upward. However, the resistance level has for the moment, proven durable and ETH/USD has seen its price erode swiftly.

The current value of ETH/USD is near 2315.00, close enough to key support levels to actually cause nervousness among speculators, who may have been hurt by the long term bearish trend experienced the past six months. After flashing positive upwards movement since the middle of March, Ethereum has embarked on a sudden downturn and now traders must decide if this is a temporary glitch or a sign of more bad things to come. Speculative endurance is certain to be tested.

If ETH/USD is not able to hold above the 3200.00 mark in the short term, this would be a negative signal.   Optimistic traders may be tempted to believe the selloff being demonstrated will prove to be a worthwhile buying opportunity because a reversal higher can be produced, but they should use careful risk taking tactics just in case selling continues to build momentum in the short term.

The broad cryptocurrency market has taken a negative turn also the past couple of days. ETH/USD is a leading digital asset and should be monitored carefully because it certainly serves as an important barometer of behavioral sentiment. If current support levels prove they can consolidate, ETH/USD may be able to exhibit another move higher near term. Traders need to use a cautious amount of leverage under the present conditions. Support near the 3194.00 level should be watched, if this crumbles things could turn worse.

Speculators who still want to pursue upwards trajectories cannot be blamed. Technically if the 3200.00 ratio is able to remain strong, the current trading range of ETH/USD could prove to be a buying window and a place to seek positive outcomes. The recent trend of ETH/USD has been solid and shown a sustained amount of gains, the sudden downturn could prove to be a momentary reversal lower driven by weak nervous sentiment. Speculative buyers need to be careful and use stop losses, but they cannot be blamed on wagering on higher price targets.

Ethereum Short-Term Outlook

Current Resistance: 3271.00

Current Support: 3194.00

High Target: 3383.00

Low Target: 3077.00

LUNA/USD created new highs over the weekend and the cryptocurrency continues to maintain its optimistic speculative stance.

LUNA/USD has created new record highs in the past day, and of this morning is showing that it has the ability to remain in sight of apex values. Yesterday’s trading took LUNA/USD above the 118.00000000 juncture, before reversing slightly on apparent profit taking as Terra went to a low of nearly 111.00000000. However after stumbling lower during Sunday’s flurry of activity, LUNA/USD did not sink below lows seen on Saturday.

Incrementally, LUNA/USD continues to hammer away at record highs, and as of this writing the cryptocurrency is near the 114.0000000 level.  Terra does move rather fast and has shown it has the capability to have price velocity that can be interpreted as speculatively strong. On the 1^st of April, LUNA/USD was trading near the 98.75000000 price. This after LUNA/USD penetrated the 100.00000000 mark on the 28^th of March and began to challenge highs seen on the 10^th of the month.

A high above 111.000000000 was achieved on the 30^th of March, before LUNA/USD sank to lows in the next two days. This is pointed out to showcase that LUNA/USD does in fact reverse lower and its moves can be substantial, so traders should not expect one way trading avenues upward exclusively. Stop losses and the perception regarding the potential of support levels being tested, and even punctured lower must be considered.

However, LUNA/USD does continue to show it is bullish.  If current support levels can hold, there seems to be a genuine case technically via mid-term charts that Terra can push upwards. The broad cryptocurrency market has continued to also show signs of optimistic life; many of the major cryptocurrencies are challenging important resistance levels and have not suffered volatile moves lower.

Cautious LUNA/USD traders may want to use moves lower to ignite their buying positions. If the 114.00000000 level is maintained by LUNA/USD this would be a positive indicator. Traders may have to be patient. Having touched new highs yesterday, there is the possibility some consolidation should be expected in the short term. Yet the trend in LUNA/USD does look positive, and there seems to be plenty of logical speculative perspective which points to a buying wager. Traders should remain realistic with their price targets when aiming for higher values. As pointed out LUNA/USD is not a one way street. Cashing out profits should they develop, is a solid idea for day traders.

Terra Short-Term Outlook

Current Resistance: 116.19000000

Current Support: 112.58000000

High Target: 119.2500000

Low Target: 110.01000000

DOGE/USD has been able to achieve gains the past two weeks of trading, but short-term selling has been seen due perhaps to profit taking.

DOGE/USD is trading near 14 and a quarter cents as of this writing. On the 28^th of March, DOGE/USD was able to climb above the 15 cents juncture, but Dogecoin has seen a reversal lower occur as some speculators may be cashing out and taking profits. DOGE/USD has done a relatively solid job of maintaining its gains the past two weeks and has incrementally climbed. On the 14^th of March DOGE/USD was trading near 11 cents.

Intriguingly DOGE/USD has not been able to challenge mid-term resistance like many of its major counterparts in the broad cryptocurrency market.  This may be a sign that DOGE/USD has lost some of it speculative zeal and has been replaced by other ‘favorites’ where traders pursue volatility. However, even if this is true, the current value of DOGE/USD may prove to be an opportunity for bullish speculators if they believe DOGE/USD remains in oversold territory.

While Dogecoin offers no real utilitarian use except for wagers on direction, DOGE/USD still serves a barometer regarding broad cryptocurrency market sentiment.  On the 13^th of February DOGE/USD was trading near the 15.75000000 level and continued to trend down from there and put in lows on the 24^th of February near 10.50000000. Since then DOGE/USD had traded in range, largely between 11 and 13 cents.

However since the 14^th of March, DOGE/USD has mirrored its major digital asset counterparts and mounted a steady move upwards.  Yes, there have been reversals lower, but incrementally DOGE/USD has gained, and on the 26^th of March Dogecoin was able to trade above 14 cents for the first time since the third week of February. The ability to climb above 15 cents two days later continued its climb. Profit taking in DOGE/USD is a legitimate concern, because many short term traders are certainly willing to cash in profits if they have made 10% or more on a move.

If DOGE/USD is able to maintain its 14 cents ratio and build consolidation in the short term, traders cannot be blamed for believing more upside price action is possible.  Buying DOGE/USD on slight reversals lower and looking for higher moves is a potentially worthwhile wager. Entry price orders are needed with DOGE/USD to guard against ‘odd’ fills. Looking for upside action to 14 and half cents and perhaps even a retest of 15 cents with Dogecoin near term may prove to a good speculative decision.

Dogecoin Short-Term Outlook

Current Resistance: 0.14430000

Current Support: 0.14070000

High Target: 0.15200000

Low Target: 0.13850000