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FX.co ★ Technical Analysis of ETH/USD for April 19, 2022

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Crypto Analysis:::2022-04-19T06:07:15

Technical Analysis of ETH/USD for April 19, 2022

Crypto Industry News:

Opera has released a beta version of its Web3 browser with a built-in crypto wallet for iOS, iPhone and iPad devices. Since January, Crypto Browser has been available for Mac and Windows users, as well as for users of Android mobile devices. The mobile version is the latest step in the Crypto Browser Project, a web3 focused initiative designed to facilitate navigation through decentralized applications (DApp), games and metaverse platforms.

According to the company, the main features include an Opera wallet with support for the Ethereum, Polygon, and Celo ecosystems for buying, selling, and transferring tokens. Users can also restore any Ethereum Virtual Machine (EVM) compatible wallet with the native Opera wallet and integrate their existing assets and balances.

On the browser home page, users can see the latest NFT top sales and news aggregator called "Crypto Corner", with live updates about crypto asset prices and gas charges as well as screenshots and even suggested educational material.

The company also said that the browser comes with cryptocurrency mining protection that blocks "cryptojacking" scripts that can compromise the performance of an iPhone or iPad. Other security features include a native ad and tracker blocker, pop-up blocker, and an intuitive cookie dialog blocker.

Technical Market Outlook:

The ETH/USD pair bounced from the 61% Fibonacci retracement levels seen at $2,878 and is back above the short-term trend line resistance. The next target for bulls is seen at the level of $3,141 and is this level is clearly violated, then the bulls might have a chance to rally higher. The market conditions are still oversold, but the momentum is neutral already. The nearest technical support is seen at $2,952.

Weekly Pivot Points:

WR3 - $3,558

WR2 - $3,417

WR1 - $3,209

Weekly Pivot - $3,065

WS1 - $2,886

WS2 - $2,742

WS3 - $2,529

Trading Outlook:

The market bounce from the level of $2,878 might be the beginning of a stronger advance above $3k again, so this level is a must to keep the eye on it. The bulls are temporary in control of the market and they are heading towards the level of $3,141 first, then lower towards $3,313.

Technical Analysis of ETH/USD for April 19, 2022

Analyst InstaForex
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