US Wall Street 30 Is in a Downtrend but Struggles Below 34000

Updated:

Key Resistance Zones: 31500, 32000, 32500
Key Support Zones: 26000, 25500, 25000

US Wall Street 30 (US30USD) Long-term Trends: Bearish
US Wall Street 30 is in an upward correction as it struggles below 34000. Buyers could not sustain the bullish momentum above level 34000 as the market reached an overbought region . US30USD has fallen below the 21-day line SMA but above the 50-day line SMA. The current upward correction may continue if the bulls break above the 21-day line SMA. However, if the bears break below the 50-day line SMA, the selling pressure will resume. In the meantime, the index will be fluctuating between the moving average lines.

US Wall Street 30 Is in a Downtrend but Struggles Below 34000
US30USD – Daily Chart

Daily Chart Indicators Reading:
US30USD is at level 53 of the Relative Strength Index for period 14. The index is in the uptrend zone despite the retracement from the overbought region. US Wall Street 30 will be compelled to a range-bound move as the price bars are between the moving average lines. The 21-day line SMA and the 50-day line SMA are sloping upward indicating the uptrend.


US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On the 4-hour chart, the index is in a downward correction as price breaks below the moving average lines. The bulls could not break the overhead resistance at level 34250, hence the decline. The index price bars are between the moving average lines.

US Wall Street 30 Is in a Downtrend but Struggles Below 34000
US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is below the 80 % range of the daily stochastic. It implies that the market is in a bearish momentum. Sellers will emerge to push prices down. The 21-day line SMA and the 50-day line SMA are sloping upward indicating the uptrend.


General Outlook for US Wall Street 30 (US30USD)
US30USD is still in the downward correction as it struggles below 34000. The upward move is facing rejection at the recent high.

You can purchase crypto coins here: Buy LBLOCK


Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.