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Ethereum Price Analysis: ETH/USD is hovering below a major resistance zone

  • Ethereum is one of the best performing cryptos on Thursday after pushing over 13% higher.
  • There is a key resistance at 176.82 there the price looks set to test at any point.
Ethereum Price Analysis: ETH/USD is hovering below a major resistance zone
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

ETH/USD 4-hour chart

Ethereum has pushed higher on Wednesday after a great session for cryptocurrencies. The ETH/USD pair has moved above the 55 and 200 period moving averages, which is also a bullish sign. 

The main area on the chart is the black resistance zone above the current price. The market reached 176.82 on April 7th and now the bulls are looking to test the level again. Since finding support at the 150.00 level it seems like the bulls have been looking to break the zone. 

If the bulls do manage to break the resistance level the psychological 200.00 level could be the next target. If not, then the red support area back at 150.00 could be tested again. Ethier way, there are good some good signs that the pair might move higher.

Ethereum Resistance zone

Additional levels

ETH/USD

Overview
Today last price171.86
Today Daily Change19.04
Today Daily Change %12.46
Today daily open152.82
 
Trends
Daily SMA20149.12
Daily SMA50164.01
Daily SMA100182.76
Daily SMA200172.16
 
Levels
Previous Daily High161.45
Previous Daily Low152.14
Previous Weekly High176.48
Previous Weekly Low140.8
Previous Monthly High252.76
Previous Monthly Low89.65
Daily Fibonacci 38.2%155.69
Daily Fibonacci 61.8%157.89
Daily Pivot Point S1149.49
Daily Pivot Point S2146.16
Daily Pivot Point S3140.18
Daily Pivot Point R1158.8
Daily Pivot Point R2164.77
Daily Pivot Point R3168.1

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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