ETH/USD on the verge of $150 breakthrough - Confluence Detector
- ETH/USD on the verge of breaking past $150 barrier since January 9th, 2019.
- Strong resistance lies right on top of the price which the bulls need to break through.
The ETH/USD market is on the verge of a huge breakthrough. ETH/USD is currently trading for $149.91 and there is significant resistance at $150 mark. If the bulls can break through, then they face little resistance till $163. The market is also comfortably supported by several strong support levels.
ETH/USD Confluence Detector
Resistance levels lie at $150 and $163. Confluences on those levels are:
- $150: Hourly previous high, 15-min previous high, 15-min Bollinger band upper curve, daily 61.8% Fibonacci retracement level, and 4-hour previous high.
- $163: Previous month high.
Support levels lie at $146 and $140. The confluences at those levels are:
- $146: 10-day simple moving average (SMA 10), daily 38.2% Fibonacci retracement level, hourly previous low, SMA 50, 15-min Bollinger band middle curve, daily 23.6% Fibonacci retracement level, monthly pivot point resistance 1, 15-min Bollinger band lower curve, hourly Bollinger band middle curve, SMA 200, and SMA 50.
- $140: Monthly 61.8% Fibonacci retracement level and SMA 100.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
