Ethereum Price Analysis: ETH snaps four-day uptrend but sellers fear entry above $983


  • 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

Overview
Today last price 1083.58
Today Daily Change -20.15
Today Daily Change % -1.83%
Today daily open 1103.73
 
Trends
Daily SMA20 728.49
Daily SMA50 630.95
Daily SMA100 512.88
Daily SMA200 421.54
 
Levels
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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