Ethereum Technical Analysis: ETH/USD trying to stay above $230 and daily EMAs
|- ETH/USD is currently trading at $229.68 trying to close above the daily 12-EMA.
- Ethereum's buyers will not encounter many resistance levels towards $250 if the bullish momentum continues.
Ethereum briefly dropped to $226.88 but recovered and it’s currently fighting to stay above the 12-EMA at $229.90 and the 26-EMA at $230.13. Closing above both EMAs is crucial and could signify another bull cross for both indicators.
ETH/USD daily chart
-637292979593328574.png){kind=link}
Although Ethereum has been trading inside a daily downtrend for a few days now, bulls will not find a lot of resistance towards the high at $253.47. Besides the current daily EMAs and the high of $232.80 established on July 1, the way is clear.
As for support, ETH/USD has some support at $224.21, the low established on June 1 followed by the low on June 15 at $218.14 and the last low at $216.37. There is a good amount of support towards $210.
ETH/USD technical levels
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.