TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

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.

More from Rajan Dhall, MSTA
Share:

Editor's Picks

Bitcoin Weekly Forecast: BTC drops below $68,000 as oversold signal fails to stop sellers

Bitcoin Weekly Forecast: BTC drops below $68,000 as oversold signal fails to stop sellers

Bitcoin corrects more than 7% so far this week, hitting an intraday low of $67,568 on Friday. Rising liquidations, continued ETF outflows, and weakening risk appetite are leaving BTC vulnerable to further downside.

Ripple risks losing $1.00 support as 24-hour liquidations hit $20 million

Ripple risks losing $1.00 support as 24-hour liquidations hit $20 million

Ripple remains on edge, trading around $1.00 on Friday. The remittance token’s sharp decline has persisted since November 5, initially triggered by the $6.3 billion Binance hack and later accentuated by the US midterm elections.

Crypto Today: Bitcoin, Ethereum, XRP extend losses as bears tighten their grip

Crypto Today: Bitcoin, Ethereum, XRP extend losses as bears tighten their grip

Bitcoin's (BTC) sell-off deepens on Friday, with the spot price below $69,000. The largest crypto by market capitalization leads the intense selling, with Ethereum (ETH) below $2,000 and Ripple (XRP) hovering just above $1.00.

Bitcoin just posted five straight losing weeks, and the storm may not be over yet

Bitcoin just posted five straight losing weeks, and the storm may not be over yet

Bitcoin is struggling to find support, slipping below $70,000 as multiple headwinds threaten to push the Crypto King lower. The much-anticipated “Uptober” rally failed to materialize, with persistent selling pressure and widespread liquidations instead reinforcing the “Rektober” narrative.

Bitcoin: BTC drops below $68,000 as oversold signal fails to stop sellers

Bitcoin: BTC drops below $68,000 as oversold signal fails to stop sellers

Bitcoin (BTC) extends its correction, falling more than 8% and hitting an intraday low of $67,568 on Friday. Despite oversold technical signals, selling pressure continues to intensify, with persistent Exchange Traded Funds (ETFs) outflows, leveraged liquidations and weakening risk appetite weighing on the Crypto King outlook.