Rajarshi Mitra
Independent Analyst
- ETH/USD went up from $195.50 to $217.45 this Tuesday.
- The RSI shows that immediate bearish correction could be on the horizon.
ETH/USD went up from $195.50 to $217.45, charting an 11.23% growth in the process. As the markets opened on Tuesday, ETH/USD went up from $195.50 to $210.50 within five hours. The bears then attempted to pull down the price to $207.85, before the buyers managed to pull it back up to $213. This was when massive bearish correction entered the market, and the price went back down to $206.45 where it trended horizontally for a while before renewed bullish momentum pulled it back up to $217.45.
ETH/USD Daily Chart
-636934736086241284.png)
- On the upside, the resistance lies at $220.
- The last four sessions took the price above the upper curve of the 20-day Bollinger band.
- The widening of the Bollinger band shows increasing market volatility.
- The market is trending above the SMA 200, SMA 50, and SMA 20 curves.
- The relative strength index (RSI) indicator is trending around 79. The previous two times it trended around this zone, the market went through a momentary bearish correction.
- The signal line is diverging away from the MACD line showing increasing bullish momentum.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?