- ETH/USD remains pressured while extending pullback from 2018 top.
- Bearish MACD challenges the bullish chart formation, 100-bar SMA adds to the downside filters.
ETH/USD drops to $1,239 during early Monday’s trading. The crypto major jumped to the highest since January 2018 during last week before stepping back from $1,350. The corrective move currently eyes the support line of a one-week-old rising channel amid bearish MACD.
Other than the channel’s support, at $1,194 now, the $1,0000 psychological magnet and 100-bar SMA near $910 also offer key support to the ETH/USD traders.
In a case where the quote drops below $910, late December lows near $690 could lure ETH/USD sellers.
Meanwhile, the recently flashed multi-month high near $1,350 and the upper line of the stated channel, currently around $1,405, probe recovery moves.
It should, however, be noted that the pair’s sustained capacity to cross $1,405 will not hesitate to refresh the record high beyond the 2018 top of $1,419.
ETH/USD four-hour chart
Trend: Further weakness expected
Additional important levels
|Today last price||1255.13|
|Today Daily Change||0.00|
|Today Daily Change %||0.00%|
|Today daily open||1255.13|
|Previous Daily High||1350.88|
|Previous Daily Low||1157|
|Previous Weekly High||1291.94|
|Previous Weekly Low||770|
|Previous Monthly High||759|
|Previous Monthly Low||530.32|
|Daily Fibonacci 38.2%||1231.06|
|Daily Fibonacci 61.8%||1276.82|
|Daily Pivot Point S1||1157.79|
|Daily Pivot Point S2||1060.46|
|Daily Pivot Point S3||963.91|
|Daily Pivot Point R1||1351.67|
|Daily Pivot Point R2||1448.22|
|Daily Pivot Point R3||1545.55|
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