ETH/USD Technical Analysis: Price breakout on the horizon

ETH/USD daily chart

  • ETH/USD is currently trading at $133.
  • The bulls and bears were matched evenly this Thursday. The bears managed to eke out a victory.

ETH/USD 4-hour chart

  • The ETH/USD 4-hour chart is trending inside the green cloud of the Ichimoku indicator which shows that the market is ready for a breakout.
  • The last six sessions of the Elliot wave shows a bullish disposition. However, each session is gradually decreasing in intensity.

ETH/USD hourly chart

  • The hourly ETH/USD is sandwiched between the 20-day simple moving average (SMA 20) and SMA 50 curves.
  • The market shows lower volatility as per the 20-day Bollinger band and the moving average convergence/divergence (MACD).
  • The last session made the price sit right on top of the SMA 20 curve.

Key Levels

  • Resistance 3: $137.65
  • Resistance 2: $136.21
  • Resistance 1: $134.54
  • Pivot Point: $133.09
  • Support 1: $131.43
  • Support 2: $129.98
  • Support 3: $128.32

BEST BROKERS TO TRADE CRYPTO

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.