J.J. Edwards’ Expert Market Analysis at FenzoFx

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Ethereum Trades Sideways: Bulls Need a Push

FenzoFx—Ethereum is trading sideways but remains above the 50-period simple moving average, signaling a bullish market. ETH is currently priced around $1,785. A close above $1,835 could trigger a move toward the $1,950 resistance.

Bearish Scenario:

If Ethereum falls below $1,690, supported by the 50-period simple moving average (4-hour chart), it could decline toward the $1,565 support level.
 

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Crude Oil Analysis

FenzoFx—Crude oil trades sideways at approximately $63.0, slightly above the 50-period simple moving average. This indicates that the market is bullish.

Immediate support is located at $61.75. The market outlook remains bullish as long as black gold trades above this level. In this scenario, the immediate resistance at $65.1 could be retested.

Bearish Scenario: The bullish outlook would be invalidated if crude oil dips below the immediate support. If this occurs, the next bearish target could be the support level at $58.90.