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Ethereum Price Analysis: ETH/USD finds support at key Fibonacci area

  • Ethereum has not evaded the crypto sell off on Wednesday and has fallen 7.29%.
  • The market has found support at a key Fib confluence area marked on the chart below.
Ethereum Price Analysis: ETH/USD finds support at key Fibonacci area
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

ETH/USD 4-Hour Chart

Today has been a serious bear day in the crypto world.

Ethereum is still over 7% lower despite finding some support recently.

There is a decent support level on the chart below where the 1.618% extension and the 38.2% retracement meet.

The retracement was drawn on the daily chart so not all of it is in the picture but it has worked to great effect.

There has now been a large hammer candle printed, which could also be a bullish signal.

Ethereum

Additional Levels

ETH/USD

Overview
Today last price229.05
Today Daily Change-17.75
Today Daily Change %-7.19
Today daily open246.8
 
Trends
Daily SMA20253.82
Daily SMA50201.51
Daily SMA100172.19
Daily SMA200179.14
 
Levels
Previous Daily High266.2
Previous Daily Low244.75
Previous Weekly High287.04
Previous Weekly Low237.24
Previous Monthly High186.73
Previous Monthly Low125.81
Daily Fibonacci 38.2%252.95
Daily Fibonacci 61.8%258.01
Daily Pivot Point S1238.97
Daily Pivot Point S2231.14
Daily Pivot Point S3217.52
Daily Pivot Point R1260.42
Daily Pivot Point R2274.03
Daily Pivot Point R3281.86

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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