- 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|
|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.