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Ethereum Price Analysis: ETH/USD bulls take over, breaks past SMA 200

ETH/USD rose from $170.50 to $173.43 on Tuesday.
The Elliott Oscillator in the daily ETH/USD chart has had a red session following five consecutive green sessions.

Rajarshi Mitra Independent Analyst

ETH/USD daily chart

ETH/USD went up from $170.50 to $173.43 in the early hours of Tuesday. The price broke past the resistance offered by the SMA 200. The SMA 20 has crossed over the SMA 50 to chart the bullish cross pattern. The price is presently charting in an upward channel formation. The MACD indicates sustained bullish momentum, while the Elliott Oscillator has had a red session following five consecutive green sessions.

ETH/BTC daily chart

ETH/BTC has gone up from 0.0248 to 0.025 after finding support at the upward trending line. Quite like the ETH/USD daily chart, ETH/BTC has also charted a bullish cross, with the SMA 20 crossing over the SMA 50. The Elliott Oscillator has charted six straight green sessions of increasing intensity, while the RSI indicator has risen from 63.74 to 65.20, edging ever so closer to the overbought zone.

Key levels

ETH/BTC

Overview
Today last price	0.03
Today Daily Change	0.01
Today Daily Change %	50.00
Today daily open	0.02

Trends
Daily SMA20	0.02
Daily SMA50	0.02
Daily SMA100	0.02
Daily SMA200	0.02

Levels
Previous Daily High	0.03
Previous Daily Low	0.02
Previous Weekly High	0.02
Previous Weekly Low	0.02
Previous Monthly High	0.03
Previous Monthly Low	0.02
Daily Fibonacci 38.2%	0.03
Daily Fibonacci 61.8%	0.03
Daily Pivot Point S1	0.02
Daily Pivot Point S2	0.02
Daily Pivot Point S3	0.02
Daily Pivot Point R1	0.03
Daily Pivot Point R2	0.03
Daily Pivot Point R3	0.03

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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