Ethereum Technical Analysis: ETH/USD marches towards $175-level.
|ETH/USD Daily Chart
- ETH/USD went up from $172.65 to $174.65 as markets opened on Saturday.
- The price is currently trending inside an upward channel formation.
- The price is trending above the SMA 200, SMA 50, and SMA 20 curves.
- The signal line is diverging away from the MACD line as the bullish momentum increases.
- The relative strength index (RSI) indicator is trending around 61.90.
ETH/USD 4-Hour Chart
- The narrowing of the 20-day Bollinger band shows decreasing market volatility.
- The latest session is looking to peek out of the upper curve of the Bollinger band.
- The latest session is also flirting with the $175 level.
- The price is also trending above the SMA 200, SMA 50, and SMA 20 curves.
ETH/USD Hourly Chart
- The hourly ETH/USD market has jumped out of the red cloud of the Ichimoku indicator.
- The Elliot wave oscillator has had five consecutive bearish sessions.
- However, the red cloud shows us a possible upcoming short-term bearish correction.
Key Levels
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