Ethereum Price Analysis

Expected Scenario

• The Ethereum price succeeded in achieving our waited target at 3900.00$ and approached the 4000.00$ barrier, but it rebounded bearishly to achieve some temporary bearish correction. This was affected by stochastic negativity that gets rid of its negative momentum clearly, waiting to resume the bullish wave that its next target reaches 4096.85$ areas.
• The EMA50 supports the continuation of the expected bullish trend, noting that breaking 3785.00$ will stop the suggested rise and push the price to continue the decline to test the 3641.82$ level before any new attempt to rise.

Expected Trading Range

Between 3730.00$ support and 3980.00$ resistance.

Bitcoin Price Analysis

Expected Scenario

• The Bitcoin price provided clear positive trades in the previous sessions, as it attacked the 70000.00$ barrier. However, we notice that the price rebounds bearishly after placing a lower high as appears on the chart, which supports the chances of continuing the decline and achieving negative targets that start at 67080.00$ and extend to 65485.00$.
• Therefore, we expect to witness more bearish bias in the upcoming sessions, noting that breaching 70200.00$ will stop the expected decline and lead the price to achieve new gains on the intraday and short-term basis.

Expected Trading Range

Between 65500.00$ support and 70000.00$ resistance.

Wheat Price Analysis

Expected Scenario

• Wheat price opens today with a bullish gap, pushing the price to breach the 710.00$ level strongly, heading towards resuming the main bullish track within the bullish channel visible on the chart.
• The price is on its way to test 737.30$ as the next station, noting that breaching it will push the price towards 750.00$ as the next main target.
• Holding above 722.00$ is crucial for the continuation of the expected rise. Breaking it will push the price to turn to decline and head to cover the mentioned gap initially, followed by continuing the decline to visit the bullish channel’s support line around 684.00$.

Expected Trading Range

Between 720.00$ support and 737.00$ resistance.

Soybean Price Analysis

Expected Scenario

• Soybean price shows more positive attempts to breach 1231.20$ and settles above it, hinting at heading to achieve additional bullish correction in the upcoming sessions.
• However, we notice that stochastic loses the positive momentum, potentially putting the price under intraday negative pressure.
• Therefore, the contradiction between technical factors makes us prefer to stay aside until the price confirms its situation according to the 1231.20$ level, followed by detecting its next destination clearly.
• Consolidating above 1231.20$ will lead the price to target 1262.10$ as the next positive station, while breaking it and trading below it again will push the price to decline towards 1193.10$ on a near-term basis.

Expected Trading Range

Between 1220.00$ support and 1250.00$ resistance.