• Ethereum rose sharply on Saturday, gained more than 10%.
  • ETH/USD remains on track to close the week around 20% higher.

Ethereum (ETH/USD) surged higher on Saturday and touched its highest level since early March at $247 before closing the day with a daily gain of 10% at $243. The pair, however, has struggled to preserve its momentum on the last day of the week and gone into a consolidation phase. As of writing, Ethereum was down 1.85% on the day at $240. Despite Sunday's correction, the pair remains on track to close the week around 20% higher.

Technical outlook

The daily Relative Strength Index (RSI) rose above 70 on Saturday and edged lower on Sunday, suggesting that Ethereum is staging a technical correction after turning overbought. Nevertheless, the near-term bullish outlook remains intact and the pair could target the critical  $250-$252 area (psychological level/March 7 high). Beyond that area, Ethereum could extend its rally to $267 (February 25 high).

On the other hand, supports are located at $220 (May 30 low) ahead of $210 (20-day SMA) and $200 (psychological level). 

ETH/USD daily chart

Additional technical levels


Today last price 237.95
Today Daily Change -5.71
Today Daily Change % -2.34
Today daily open 243.66
Daily SMA20 206.54
Daily SMA50 196.06
Daily SMA100 185.34
Daily SMA200 176.8
Previous Daily High 247.15
Previous Daily Low 218.77
Previous Weekly High 224.81
Previous Weekly Low 196.65
Previous Monthly High 227.37
Previous Monthly Low 128.95
Daily Fibonacci 38.2% 236.31
Daily Fibonacci 61.8% 229.61
Daily Pivot Point S1 225.91
Daily Pivot Point S2 208.15
Daily Pivot Point S3 197.53
Daily Pivot Point R1 254.28
Daily Pivot Point R2 264.9
Daily Pivot Point R3 282.66



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