Feb 22nd Daily Analysis
Feb 22nd Daily Analysis
ETHUSD
The current standoff between the US and its NATO allies versus Russia over its threats to invade Ukraine could start a war in Europe. Cryptocurrencies could make the problem of flight capital simpler. Indeed, if global geopolitical conflagrations ratchet up, digital tokens could become the leading assets serving as flight capital. Ironically, rising prospects for war could be bullish for cryptocurrencies.
Technical analysis:
The overall trend for ETHUSD is bearish. We could see that price is approaching the resistance level between 2395 and 2252 which also shows that price is approaching oversold level in the RSI indicator. There could be possible reversal to the upside once price reaches the oversold level.
DAX INDEX
Investors were bracing for a torrid day for Russian, Ukrainian and wider global markets when they reopen on Tuesday, after Vladimir Putin upped the ante in a crisis the West fears could unleash a major war.
Technical analysis:
The overall trend of GRE30 is bearish after price broke the support level between 15033 and 14919 to the down side. Price is currently reacting to the resistance level between 14411 and 14318 which may see price make a reversal to the support zone. We could see that price is almost oversold in the RSI indicator which could add to the confluence of a possible reversal once that is achieved.
EURJPY
Technical analysis:
The overall trend for EURJPY is bearish after price broke the previous low to the downside. Price is almost at the resistance level between 129.278 and 129.114 which is also oversold from the RSI indicator. There could be a possible reversal to the upside once price hits the oversold level.