ETH/USD technical analysis: Ethereum is one of the outperformers today

|ByRajan Dhall, MSTA

  • Ethereum trades 2,23% higher today as general crypto sentiment improved.
  • The ETH/USD price has broken through the psychological level of 200.00.
 
ETH/USD has broken out of an important psychological resistance as you can see on the daily chart below.
 
Since the price based out at around 163.57, buying volume has been noted and bulls managed to push the price through some important resistances.
 
Now on the topside, the next resistance stands at 230.28 and there has been some traffic at 250 also.
 
The price has come a long way down since the highs seen in June of 364.49 and if the higher low higher high waves continue with this volume we may get some way back toward those levels.
 
The real worry for the bulls is just below 275. That is the main high volume node on the chart. This is represented by the volume composite profile indicator on the left-hand side.
 
The peak of the bell curve shows that this is the price were most trades exchanged hands and it could be important in the future.
 
 

 

 

 

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