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

Overview
Today last price 967.13
Today Daily Change -13.31
Today Daily Change % -1.36%
Today daily open 980.44
 
Trends
Daily SMA20 682.54
Daily SMA50 606.21
Daily SMA100 498.53
Daily SMA200 413.11
 
Levels
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

 

 

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