Market Technical Analysis by RoboForex

[RBFX Support]

BTCUSD aims to set a new local high

BTCUSD recovered from the decline that followed the Federal Reserve's rate hike. The current price is 81,550. 

Technical outlook

BTCUSD is trading in an uptrend. The price is testing the resistance level at 81,885 USD. Support has formed at 74,890 USD. The price has been trading within this range since the end of August this year.

In the short term, BTCUSD is in a consolidation phase, while the fundamental backdrop is more likely to restrain growth.

Read more - BTCUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

[RBFX Support]

ETHUSD under selling pressure after a sharp rally

ETHUSD is correcting after the previous session's sharp rally, with the market focused on profit-taking. The current price is 2,729 USD.

Technical outlook

ETHUSD has consolidated below the EMA-65 line, indicating that selling pressure remains, although it is still too early to speak of a full price reversal. Today's ETHUSD forecast suggests a continuation of the upward move towards the 2,890 USD target.

ETHUSD technical analysis is gradually shifting in favour of buyers, although the price remains under selling pressure and the bullish scenario still requires confirmation. 

Read more - ETHUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team