• Ethereum is trading 0.56% lower in a mixed Wednesday for cryptocurrencies.
  • The hourly chart has produced a chart pattern that is being tested right now.

ETH/USD 1-hour chart

Ethereum has fallen once again on Wednesday but nothing compared to the massacre over the last few weeks. The pair has fallen around 11% year to date and over 59% from the yearly highs. Despite this, it seems the bears are still in control but only just as the market has started to consolidate just above the 100 level.

On the chart below, there is quite a large triangle that has been formed on the 1-hour chart. The price is now moving toward the apex of the pattern but it has been noted that the volume has dropped off in a big way. The resistance level to beat is around 113.16 while the major support is at 90.00.

Looking at the higher timeframe, the volume in March has been at its highest levels on the Coinbase exchange. It is hard to believe that the volume is at a higher level than the boom time in early 2018. 

Ethereum Chart pattern

Additional levels

ETH/USD

Overview
Today last price 115.7
Today Daily Change -0.46
Today Daily Change % -0.40
Today daily open 116.16
 
Trends
Daily SMA20 189.99
Daily SMA50 215.35
Daily SMA100 179.82
Daily SMA200 178.23
 
Levels
Previous Daily High 121.33
Previous Daily Low 109.8
Previous Weekly High 237.78
Previous Weekly Low 89.65
Previous Monthly High 288.7
Previous Monthly Low 179.06
Daily Fibonacci 38.2% 116.93
Daily Fibonacci 61.8% 114.21
Daily Pivot Point S1 110.2
Daily Pivot Point S2 104.23
Daily Pivot Point S3 98.66
Daily Pivot Point R1 121.73
Daily Pivot Point R2 127.3
Daily Pivot Point R3 133.27

 

 

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