- ETH/USD drops over 2.0% while snapping five-day uptrend.
- An ascending trend line from November 24 offers immediate support.
- Sustained trading beyond 200-bar SMA, bullish MACD favor buyers.
ETH/USD consolidates gains from last Thursday while declining to $710.53, down 2.58% intraday, during early Tuesday. Although overbought RSI conditions triggered the crypto major’s pullback from a 31-month high, bullish MACD and a five-week-old ascending trend line favor the bulls. Even so, the quote’s latest weakness eyes the $700 round-figure as imminent support.
As a result, ETH/USD buyers may look for a fresh position around the stated trend line support near $690.
While the recent top near $750 can lure the bulls entering around $690, May 2018 high near $830 can become their ultimate short-term target.
In a case where the ETH/USD keeps rising past-$830, February 2018 peak surrounding $985 and the $1,000 will gain the market’s attention.
Alternatively, the pair’s downside break of the stated support line close to $690 can take rest near December 17 top of $677.
Should ETH/USD sellers keep the reins past-$677, the weekly trend line support near $650 and 200-bar SMA close to $599 will be the key.
ETH/USD four-hour chart
Additional important levels
|Today last price||710.86|
|Today Daily Change||-18.84|
|Today Daily Change %||-2.58%|
|Today daily open||729.7|
|Previous Daily High||747|
|Previous Daily Low||680.9|
|Previous Weekly High||661.4|
|Previous Weekly Low||551.45|
|Previous Monthly High||623.22|
|Previous Monthly Low||370.5|
|Daily Fibonacci 38.2%||721.75|
|Daily Fibonacci 61.8%||706.15|
|Daily Pivot Point S1||691.4|
|Daily Pivot Point S2||653.1|
|Daily Pivot Point S3||625.3|
|Daily Pivot Point R1||757.5|
|Daily Pivot Point R2||785.3|
|Daily Pivot Point R3||823.6|
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