Ethereum Price Prediction: ETH/USD critical trend line of support preventing – Confluence Detector
|- Ethereum’s price on Friday in the second part of the session with modest gains of some 0.30%.
- ETH/USD is supported to the upside by an ascending trend line, which has been in play since early February.
Ethereum’s price on Friday in the second half of the session is trading in the green ever so marginally by some 0.30%. ETH/USD bulls are attempting to regain full control, after taking a beating on Thursday.
ETH/USD price action is supported to the upside by an ascending trend line, which has been in play since early February. A break below this running comfort could be very punishing to say the least.
Looking via the daily confluence detector, firstly the barriers of resistance; $166.55, daily 38.2% Fibonacci, $171.72 weekly 23.6% Fibonacci. To the downside in terms of support; $164.83, daily 23.6% Fibonacci and weekly 38.2% Fibonacci, $161.38, monthly pivot point support.
ETH/USD daily confluence detector
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.