• ETH/USD has recovered from Friday lows, but the upside is limited.
  • DMA100 creates the ultimate bulls' target.

ETH/USD is hovering around $105.00 handle, off the early Asian low at $104.31. The third largest coin with the current market cap of $11B has lost over 3.5% of its value in recent 24 hours, ready to finish the third bearish week in a row. 

Ethereum rose a high as $163.22 in January, but the upside was caused by speculative positioning ahead of Constantinople update. Thus the positions were reversed after the developer team announced the delay. 

Now ETH/USD is drifting lower in sync with the rest of the market. 

Looking technically, the further price developments hinge on the coins ability to regain $110.00 handle. This resistance is regarded as a key for a sustainable short-term recovery, that will open up the way towards $123.50 (DMA50) and $141.60 (DMA100). A sustainable move higher will signal that the upside recovery is here to stay.

On the downside, the first major support comes at $102.17 (January 2019 low). If it is broken, the sell-off may continue towards $100 and to December 2018 low at $82.00.

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

Two healthy support levels are keeping BTC/USD above $9,000

After three immensely bullish days, the bears stepped back in to correct the BTC/USD market. This Tuesday, the buyers spiked BTC/USD from $8,890 to $9,401, before the bears adjusted the price to $9,330.45 in the early hours of Wednesday.

More Bitcoin News

Ethereum Classic Price Analysis: ETC/USD breaks past $11.50-level

ETC/USD charted four straight bullish days to go up from $8.44 to $11.65, going past the $11.50-level, in the process. The last time ETC/USD was trending around this level was back in September 2018.

More Ethereum Classic News

XRP/USD must breach Ichimoku cloud to re-enter the $0.25 zone

This Tuesday, XRP/USD went up from $0.23 to $0.239 this Tuesday. However, the bears were able to take charge in the early hours of Wednesday and correct the price to $0.2387. To re-enter the $0.25 zone, the price must breach the red Ichimoku cloud.

More Ripple News

Bitcoin Cash Market Update: BCH/USD short-lived rally falls short of $400

There are mixed red and green signals in the cryptocurrency market. Bitcoin is among those assets still sustaining the intraday gains accrued on Monday, and particularly during the Asian session. The largest digital currency, Bitcoin ...

More Bitcoin Cash News


Bitcoin Weekly Forecast: Bitcoin bulls and bear fight gets a tougher edge

The cryptocurrency market started the downside correction after a strong rally initiated by risk reversal play at the beginning of January and reinforced by various altcoin pumps...

Read the weekly forecast