- ETH/USD eases from all-time high amid overbought RSI.
- Sustained break of weekly resistance, bullish MACD hint further upside.
- 17-day-old rising trend channel also portrays bullish momentum.
ETH/USD eases from the record top of $1,549 to $1,517.70 during early Wednesday. The altcoin buyers might have taken a break amid overbought RSI conditions but the bullish momentum, portrayed by MACD and successful break of short-term resistance, now support, keeps suggesting the quote’s further upside.
As a result, the top line of an upward sloping trend channel stretched from January 10, currently around $1,580, gains the ETH/USD buyers’ attention, for now.
However, any further upside will not hesitate to challenge the $2,000 psychological magnet wherein the $1,600 threshold can act as an intermediate stop.
Alternatively, a downside break of the previous resistance line from January 25, currently around $1,400, will be challenged by 100-bar SMA and an eight-day long ascending support line near $1,315.
If at all the ETH/USD sellers manage to break $1,315, the stated channel’s lower line close to $1,200 will be the key to watch.
ETH/USD four-hour chart
Additional important levels
|Today last price||1520.59|
|Today Daily Change||6.92|
|Today Daily Change %||0.46%|
|Today daily open||1513.67|
|Previous Daily High||1549|
|Previous Daily Low||1360.27|
|Previous Weekly High||1477.3|
|Previous Weekly Low||1206.05|
|Previous Monthly High||1477.3|
|Previous Monthly Low||715.22|
|Daily Fibonacci 38.2%||1476.91|
|Daily Fibonacci 61.8%||1432.36|
|Daily Pivot Point S1||1399.63|
|Daily Pivot Point S2||1285.58|
|Daily Pivot Point S3||1210.9|
|Daily Pivot Point R1||1588.36|
|Daily Pivot Point R2||1663.04|
|Daily Pivot Point R3||1777.09|
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