• ETH breaks out again, room for more upside.
  • Small resistances around, consolidation may come calling.

Ethereum, the second largest crypto by market capitalisation has again given a break out of another key trendline resistance after it broke out of one, last week that resulted in prices rallying 20 percent within a week.

ETH/USD is up more than 4 percent on day at $166.386 at high point of the day and trading in 5 percent range for the day. On the daily chart, ETH had a key resistance in the form of a descending trendline formed from September highs which the second largest crypto just broke out of even after breaking past another key resistance. (Read here)

Now that both the key resistances have been crossed, all ETH now needs is some consolidation and rallies, as the RSI is overbought and it faces two more key levels in the form of 200 days SMA at $178.87 and EMA at $205.03.

ETH/USD daily chart:

 


Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: Bulls eye $12,000 amid falling channel breakout

Bitcoin (BTC/USD) has finally broken the recent consolidative phase to the upside, as the bulls cleared the $11,700 resistance. Technical set up favors BTC bulls, eyes set on $12,000 mark. 

More Bitcoin News

BCH/USD: Downside appears compelling amid bearish crossover

Bitcoin Cash (BCH/USD) is consolidating in a $10 narrow range after a volatile Friday, as the bears gear up for the next push lower. Hourly RSI inches lower below the midline, with bearish HMAs crossover. A test of Friday's low at $277 is on the cards. 

More Bitcoin Cash News

VET/USD: Bullish bias intact while above 21-DMA

The bullish tone around VeChain (VET/USD) remains intact on Saturday, despite a temporary pullback seen a day before. The path of least resistance appears to the upside, especially after it charted a descending triangle breakout on the daily sticks last Tuesday.

More Cryptocurrencies News

Cryptocurrency Market Update: Ethereum outperforms amid broad-based buying spree

Buying-wave sweeps across the crypto board on Saturday. Ethereum leads the advance among the top 3 favorite crypto coins. Will the bulls extend control into Sunday after Friday’s decline?

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast

BTC

ETH

XRP