Ethereum Price Analysis: ETH bulls catch a breather around February 2018 top

  • ETH/USD consolidates gains from the multi-month top amid overbought RSI conditions.
  • 61.8% of Fibonacci retracement offers key support, bulls keep eyes on 2018 high.

Having jumped to the highest in 35 months, ETH/USD recedes to $955.35 during early Monday’s trading. Although overbought RSI conditions suggest further consolidation of prices, 61.8% Fibonacci retracement of the year 2018 downturn becomes the key level to watch for bears.

The downside break of the key Fibonacci retracement, at $906.30, needs to get validation from the $900 round-figure before challenging May 2018 top surrounding $830.

However, any further weakness past-$830 can make the crypto pair vulnerable to revisit July 2018 peak close to $515.00 ahead of highlighting the $500 psychological magnet and September 2020 high of $488.95.

On the contrary, the $1,000 threshold guards the pair’s immediate upside ahead of the recent high around $1,015.

Should ETH/USD buyers chose to ignore RSI conditions beyond $1,015, the February 2018 high of $1,224 and the year 2018 peak, also the record high, near1,420 will be in the spotlight.

ETH/USD weekly chart

Trend: Pullback expected

Additional important levels

Today last price 967.13
Today Daily Change -13.31
Today Daily Change % -1.36%
Today daily open 980.44
Daily SMA20 682.54
Daily SMA50 606.21
Daily SMA100 498.53
Daily SMA200 413.11
Previous Daily High 1015.14
Previous Daily Low 770
Previous Weekly High 759
Previous Weekly Low 625.01
Previous Monthly High 759
Previous Monthly Low 530.32
Daily Fibonacci 38.2% 921.5
Daily Fibonacci 61.8% 863.64
Daily Pivot Point S1 828.58
Daily Pivot Point S2 676.72
Daily Pivot Point S3 583.44
Daily Pivot Point R1 1073.72
Daily Pivot Point R2 1167
Daily Pivot Point R3 1318.86



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

Latest Crypto News & Analysis

Editors’ Picks

Cardano Price Forecast: ADA braces for a test of $2 amid a potential bull pennant

Cardano (ADA/USD) is extending its recovery this Sunday after a sharp sell-off witnessed a day before. ADA/USD charts a bull pennant on the 12H chart.  A test of the $2 mark appears inevitable if the bullish pattern is confirmed. RSI has regained upside momentum, well above 50.00.

More Cardano News

XLM Price risks further falls towards $0.53 amid double top reversal

XLM/USD is falling for the third straight day on Sunday. $0.53 support appears at risk after the double top reversal on the 1D chart. RSI points south towards the midline as the XLM price eases from record highs.

More Stellar News

Dogecoin: Defending 21-DMA is critical after Musk calls it a ‘hustle’

Elon Musk's appearance on 'SNL' throws DOGE under the bus. DOGE/USD extends sell-off into Sunday, hitting five-day lows. DOGE bulls remain hopeful as 21-DMA support holds, with RSI still bullish.

More Dogecoin News

Ethereum bulls gather strength for a sustained break above $4000

Ethereum bulls take a breather after Saturday’s $500 rally to record highs. The No. 2 coin eyes additional upside after rising wedge breakout on the 4H chart. RSI is in the overbought region, dip buying to keep the uptrend intact.

More Ethereum News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast