- 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.
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
|Today last price||237.95|
|Today Daily Change||-5.71|
|Today Daily Change %||-2.34|
|Today daily open||243.66|
|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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