Ethereum Price Analysis: ETH bulls catch a breather below $1,800, upside bias still intact


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  • ETH/USD flirts with the previous day’s record top, consolidates off-late.
  • Bullish channel, MACD favor buyers targeting a move towards $2,000.
  • RSI conditions join immediate resistance to challenge the bulls.

ETH/USD wavers around the mid-1,700s during early Tuesday. In doing so, the altcoin teases the record high of $1,780, flashed the previous day, inside the one-month-old rising channel.

Not only the bullish chart pattern but upbeat MACD and news from the Stablecoin Printer, suggesting that the Tether Printer just coined $1,000,000,000 USDT to mark the total supply of $31,008,167,441, also favor the ETH/USD buyers.

However, an ascending trend line from the last Friday, at $1,787 now, precedes the $1,800 round-figure to guard the quote’s immediate upside.

Also acting as the key hurdle is the upper line of the stated rising channel, currently around $1,825.

Meanwhile, 10-day SMA and 21-day SMA, respectively near $1,600 and $1,445, will entertain the short-term ETH/USD sellers during the cryptocurrency pair’s pullback.

Even if the ETH/USD drops below $1,445, the support line of the channel, at $1,405 now, followed by the $1,400 round-figure, should become the key for the traders as a downside break of which will raise barriers for the current bullish trend.

ETH/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 1744.6
Today Daily Change -8.38
Today Daily Change % -0.48%
Today daily open 1752.98
 
Trends
Daily SMA20 1430.38
Daily SMA50 1150.62
Daily SMA100 841.1
Daily SMA200 609.05
 
Levels
Previous Daily High 1780
Previous Daily Low 1565.98
Previous Weekly High 1763.93
Previous Weekly Low 1271.31
Previous Monthly High 1477.3
Previous Monthly Low 715.22
Daily Fibonacci 38.2% 1698.24
Daily Fibonacci 61.8% 1647.74
Daily Pivot Point S1 1619.31
Daily Pivot Point S2 1485.63
Daily Pivot Point S3 1405.29
Daily Pivot Point R1 1833.33
Daily Pivot Point R2 1913.67
Daily Pivot Point R3 2047.35

 

 


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