- ETH/USD extends pullback from $1,123 amid overbought RSI.
- Lower high formation also directs bears toward 5-day SMA, February 2018 top.
ETH/USD marks its first intraday losses in four while declining to $1,080 during early Wednesday. The ethereum buyers seem to have lacked upside momentum following their run-up to the highest since late January 2018 during Monday. Since then, the quote has been marking a lower high formation amid overbought RSI, which in turn favor sellers.
However, 5-day SMA and February 2018 top, respectively near $995 and $983, will follow the $1,000 threshold to challenge the bears’ entry.
In a case where the ETH/USD drops below $983, March 2018 peak surrounding $890 could return to the charts ahead direction the quote towards the previous resistance line stretched from September 2020, near $695.
Meanwhile, the recent top close to $1,170 guards the pair’s immediate upside before recalling the ETH/USD bulls.
Following that, January 28, 2018 high near $1,225 and the year 2018 top close to $1,420 will be in the spotlight.
ETH/USD daily chart
Trend: Pullback expected
Additional important levels
|Today last price||1083.58|
|Today Daily Change||-20.15|
|Today Daily Change %||-1.83%|
|Today daily open||1103.73|
|Previous Daily High||1136.93|
|Previous Daily Low||975|
|Previous Weekly High||759|
|Previous Weekly Low||625.01|
|Previous Monthly High||759|
|Previous Monthly Low||530.32|
|Daily Fibonacci 38.2%||1075.07|
|Daily Fibonacci 61.8%||1036.86|
|Daily Pivot Point S1||1006.84|
|Daily Pivot Point S2||909.96|
|Daily Pivot Point S3||844.91|
|Daily Pivot Point R1||1168.77|
|Daily Pivot Point R2||1233.82|
|Daily Pivot Point R3||1330.7|
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