Ethereum Price Analysis: ETH pullback battles one-week-old rising channel

  • 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
Daily SMA20 877.99
Daily SMA50 704.87
Daily SMA100 557.09
Daily SMA200 446.62
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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