• Ethereum trades 15.5% higher as crypto sentiment surges on Monday.
  • The price looks to be heading toward higher levels after 150.0 was broken earlier in the session.

ETH/USD 4-hour chart

Ethererum has moved in a classic Elliott Pattern in the first part of the move marked in black. Now it is time for the price to accelerate higher as this move could be the potential wave 3 which is normally the longest. The price has seen a wave 3 wave earlier but sometimes these waves can be subdivided into waves between waves as Elliott Wave principle is fractal. 

What this means is that sometimes the initial waves could just be part of a bigger picture and if the 161.% extension or the 261.8% is hit this will most certainly be the case. The great news is that there seems to be lots of volume behind this move higher so it has been backed by the market. 

Elsewhere the indicators are bullish too, the RSI has pushed into bullish territory and the price has pushed through the moving averages. The only concern could be a short term correction before a longer-term continuation. 

Ethereum Price Rally

Additional levels

ETH/USD

Overview
Today last price 165.42
Today Daily Change 22.53
Today Daily Change % 15.77
Today daily open 142.89
 
Trends
Daily SMA20 133.51
Daily SMA50 184.4
Daily SMA100 179.81
Daily SMA200 174.15
 
Levels
Previous Daily High 145.97
Previous Daily Low 140.8
Previous Weekly High 150.33
Previous Weekly Low 123.94
Previous Monthly High 252.76
Previous Monthly Low 89.65
Daily Fibonacci 38.2% 142.77
Daily Fibonacci 61.8% 143.99
Daily Pivot Point S1 140.47
Daily Pivot Point S2 138.05
Daily Pivot Point S3 135.3
Daily Pivot Point R1 145.64
Daily Pivot Point R2 148.39
Daily Pivot Point R3 150.81

 

 

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300. A shall green candle on a weekly chart is a promising signal, though the market is still gripped with uncertainty at this stage. 

More Bitcoin News

XRP/USD drops below $0.2000 after a failure at $0.2030

XRP/USD tested the intraday high at $0.2031, but the strong resistance located around this area discouraged the short-term bulls and pushed XRP/USD below $0.2000 by press time.

More Ripple News

ETH/USD breaks out into the $220 zone, will it be $230 or $210 next?

Ethereum price followed in the footsteps of the largest cryptocurrency by market capitalization, Bitcoin. BTC sprung upwards and for the first time in seven days, stepped above $9,600.

More Ethereum News

EOS/USD slumps below 4-hour SMA200, focus on $2.54

EOS/USD attempted a recovery above 4-hour SMA200 (currently at $2.65) and touched the intraday high at $2.67. However, the upside momentum proved unsustainable as the price of the digital asset dropped to $2.62

More EOS News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300.

Read the weekly forecast

BTC

ETH

XRP