ETH/USD Technical Analysis: Price breakout on the horizon
|ETH/USD daily chart
- ETH/USD is currently trading at $133.
- The bulls and bears were matched evenly this Thursday. The bears managed to eke out a victory.
ETH/USD 4-hour chart
- The ETH/USD 4-hour chart is trending inside the green cloud of the Ichimoku indicator which shows that the market is ready for a breakout.
- The last six sessions of the Elliot wave shows a bullish disposition. However, each session is gradually decreasing in intensity.
ETH/USD hourly chart
- The hourly ETH/USD is sandwiched between the 20-day simple moving average (SMA 20) and SMA 50 curves.
- The market shows lower volatility as per the 20-day Bollinger band and the moving average convergence/divergence (MACD).
- The last session made the price sit right on top of the SMA 20 curve.
Key Levels
- Resistance 3: $137.65
- Resistance 2: $136.21
- Resistance 1: $134.54
- Pivot Point: $133.09
- Support 1: $131.43
- Support 2: $129.98
- Support 3: $128.32
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