Ethereum Price Analysis: ETH bulls facing an uphill task inside short-term triangle


  • ETH/USD eases from nine-day-old triangle resistance, three-day top.
  • Normal RSI conditions battle mixed MACD amid immediate upside.
  • Monthly top, one-week-old ascending trend line favor bulls.

ETH/USD steps back from short-term resistance while declining to $1,256 during early Tuesday. In addition to easing from the immediate triangle’s upper line, Ethereum also drops from a three day high by press time.

Even so, the bears aren’t convinced of entry as RSI remains far from overbought conditions even as MACD dwindles.  Also favoring the upside momentum is an ascending trend line from January 11.

Hence, ETH/USD buyers can eye for the monthly peak surrounding $1,350 despite recent failures to cross the $1,277 hurdle.

During the quote’s sustained upside past-$1,350, an upward sloping trend line from January 11, at $1,380 now, will be the key to watch.

On the flip side, ETH/USD weakness below the triangle support line, currently around $1,197, can recall 11-day-long horizontal support near $1,064.

If at all the Ethereum sellers dominate past-$1,064, the $1,000 threshold and last week’s low around $905 can entertain them ahead of the monthly low near $715.

ETH/USD four-hour chart

Trend: Bullish

Additional important levels

Overview
Today last price 1259.03
Today Daily Change 0.55
Today Daily Change % 0.04%
Today daily open 1258.48
 
Trends
Daily SMA20 1085.2
Daily SMA50 802.59
Daily SMA100 622.74
Daily SMA200 484.46
 
Levels
Previous Daily High 1261
Previous Daily Low 1181.9
Previous Weekly High 1350.88
Previous Weekly Low 905
Previous Monthly High 759
Previous Monthly Low 530.32
Daily Fibonacci 38.2% 1230.78
Daily Fibonacci 61.8% 1212.12
Daily Pivot Point S1 1206.59
Daily Pivot Point S2 1154.69
Daily Pivot Point S3 1127.49
Daily Pivot Point R1 1285.69
Daily Pivot Point R2 1312.89
Daily Pivot Point R3 1364.79

 

 

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