• 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

 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Shiba Inu, one of the so-called “Dogecoin killers,” signals a hot crypto summer

Shiba Inu, one of the so-called “Dogecoin killers,” signals a hot crypto summer

Shiba Inu (SHIB) price is set to start an outperformance after the crypto winter that put investors and bulls in hibernation since March of this year. As more signs point to a turnaround, it is time to put money to work for investors as price action gets underpinned, with $0.00001100 aligning as the line in the sand and the monthly S2 support level as additional support.

More Shiba Inu News

Do Kwon in trouble as Korean police urges Upbit, Bithumb, Coinone, Korbit and Gopax to freeze Terra’s assets

Do Kwon in trouble as Korean police urges Upbit, Bithumb, Coinone, Korbit and Gopax to freeze Terra’s assets

Do Kwon faces legal proceedings in South Korea while endorsing a revival plan to fork Terra with a new token, excluding TerraUSD. On Wednesday, South Korean authorities are scheduled to meet cryptocurrency exchanges Upbit, Bithumb, Coinone, Korbit and Gopax after instructing them to freeze Luna Foundation Guard assets. 

More Terra News

Where Ethereum price will go as it prepares for bullish breakout

Where Ethereum price will go as it prepares for bullish breakout

Ethereum (ETH) price is set to jump 18% in value if a tailwind persists throughout the trading day. Although the ASIA PAC session saw some dark clouds forming over disappointment at the Chinese government’s support package and this pushed Asian shares to the downside.

More Ethereum News

Identifying an opportunity to time SafeMoon’s breakout

Identifying an opportunity to time SafeMoon’s breakout

SafeMoon price seems to be making a comeback after crashing for nearly five months. This downswing formed a base around a significant support level and has bounced back exponentially. For now, investors can expect SAFEMOON to continue this ascent until it tags a critical resistance barrier.

More SafeMoon News

Bitcoin: The last rebound before capitulation

Bitcoin: The last rebound before capitulation

Bitcoin is showing bullish signs in the lower time frames, which can be taken advantage of by traders in the next couple of days. But looking at BTC from the higher time frames suggests that the bottom is not in yet.

Read full analysis

BTC

ETH

XRP