Rajarshi Mitra
Independent Analyst
- ETH/USD is currently trading for $137 and has growth potential till $143.
- ETH/USD can climb up to $150 as well if the bulls have enough momentum to reach past the $143 resistance level.
ETH/USD bulls rallied together and took the price up from $133 to $137. According to the ETH/USD daily confluence detector, there is definite growth potential till $143. Since $143 is the only significant resistance level, if the bulls breach past that, then there is a clear path for the market to reach the $150 territory. The price is also currently resting on three significant support lines, which will discourage the bears.
ETH/USD daily confluence detector
According to the confluence detector, ETH/USD has only one significant line of resistance at $143. The confluence at that level is - Monthly 38.2% Fibonacci retracement level and weekly pivot point resistance 1.
The lines of support lie at $137, $136, and $134. The confluences at those levels are:
- $137: Daily 161.8% Fibonacci retracement level, 50-day simple moving average (SMA 50), 4-hour Bollinger band upper curve, 15-min Bollinger band lower curve, SMA 10, daily Bollinger band middle curve, and 4-hour previous low.
- $136: Daily pivot point resistance 1, daily previous high, weekly 61.8% Fibonacci retracement level, SMA 10, SMA 5, and SMA 50.
- $134: Daily 61.8% Fibonacci retracement level and SMA 100.
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