Ethereum Market Forecast: ETH/USD bulls aim to conquer $245 psychological level

ETH/USD went up by 6.67% this Monday following bullish price action.
The Elliott Oscillator has had a green session following 11 straight red sessions.
William’s %R is on the verge of entering the overbought zone.

Rajarshi Mitra Independent Analyst

ETH/USD daily chart

ETH/USD went up from $227.80 to $243 this Monday, as the bulls aim to conquer the $245 psychological level. The Elliott Oscillator has had a green session following 11 straight red sessions. After experiencing a significant jump following Monday's bullish price action, William’s %R is on the verge of entering the overbought zone.

Support and Resistance

ETH/USD faces strong resistance at $248.50. On the downside, healthy support levels lie at SMA 20, $237.50, $231.45 and SMA 50.

Key levels

ETH/USD

Overview
Today last price	243.08
Today Daily Change	15.28
Today Daily Change %	6.71
Today daily open	227.8

Trends
Daily SMA20	237.28
Daily SMA50	220
Daily SMA100	188.94
Daily SMA200	184.97

Levels
Previous Daily High	231.26
Previous Daily Low	227.04
Previous Weekly High	238.59
Previous Weekly Low	218.14
Previous Monthly High	247.15
Previous Monthly Low	176.19
Daily Fibonacci 38.2%	228.65
Daily Fibonacci 61.8%	229.65
Daily Pivot Point S1	226.14
Daily Pivot Point S2	224.48
Daily Pivot Point S3	221.92
Daily Pivot Point R1	230.36
Daily Pivot Point R2	232.93
Daily Pivot Point R3	234.59

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.

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Ethereum Market Forecast: ETH/USD bulls aim to conquer $245 psychological level