• Ethereum price settled in a range, having recovered from the recent low
  • Critical resistance is created by psychological $180.00.

ETH/USD bottomed at $168.35 on October 18 and, having recovered above $170.00 entered a range-bound phase. By the time of writing, the second largest coin settled at $174.30, amid slow trading activity. Lo volatility on the global cryptocurrency markets limits ETH movements and creates conditions for further consolidation in a tight range.

Ethereum’s market value is registered at $18.9. The coin is up 1.5% on a day-to-day basis. 

Ethereum’s technical picture

On the intraday charts, ETH/USD recovery is capped by SMA50 (Simple Moving Average) four hour at $177.40. Once this barrier is out of the way, the upside is likely to gain traction with the next focus on pivotal $180.00. We will need to see a sustainable move above this handle for an extended recovery to $183.55 (SMA200 four hour).

On the downside, a move below $173.00 (the middle line of four-hour Bollinger Band) will take the price to critical $170.00 strengthened by the lower line of four-hour Bollinger Band, and to the recent low of $168.35. That’s where fresh buying orders are to stop the decline; if they are absorbed, the sell-off may continue towards $160.00.

ETH/USD, four-hour chart

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 & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC/USD looks set to hit 10K after descending wedge break

BTC/USD looks set to test the 10K level once again after the price pushed through 9K yesterday. The price continues to trade above both the 55 and 200 moving averages, which is a bullish signal. The market is in ...

More Bitcoin News

Ripple Price Analysis: XRP/USD charts bearish cross patten

XRP/USD continued its bullish domination as the price went up slightly from $0.1979 to  $0.1982. Presently, the price has peeked above the green Ichimoku cloud, while it has found resistance at ...

More Ripple News

Ethereum Technical Analysis: ETH/USD bulls push price above the $215–level

ETH/USD bulls stayed in control of the market for the second straight day as the price went up from $208.37 to $215.67. The price is currently trending near the upper curve of the 20-day Bollinger Band.

More Ethereum News

Tezos Price Analysis: XTZ breaks out of the triangle pattern on the hourly chart

Tezos has been trading higher on Thursday as most of the crypto majors trade in the black. The price recently converged into a triangle formation making lower high waves and higher low waves.

More Tezos News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls are nowhere to be seen

Bitcoin attempted a recovery towards $10,000 but ended up at $9,100. The first digital asset printed the second red candle on a weekly chart. It is an alarming signal for the long-term bull as BTC may be vulnerable to deeper losses.

Read the weekly forecast

BTC

ETH

XRP