Ethereum price analysis: ETH/USD stays above 100 SMA on Monday 15


  • There was a brief surge on Monday but the upside has been capped at $170.00.
  • Ethereum to trend sideways within the range between $160 and $170.

Ethereum kicked off the new week with a bullish move. The correction comes after a weekend of calm across the entire market. The support established at $160 has been instrumental in ensuring that the price does not slide further. The hurdle at $165 capped the correction in the last weekend’s session.

However, on breaking path both the 50 simple moving average (SMA) 1-hour and the 100 SMA 1-hour woke up the sleeping bulls. There was a brief surge on Monday but the upside has been capped at $170.00. ETH/USD is trending lower below the trendline resistance at $170.00 and the range limit at $170.00.

According to the applied technical indicators, ETH/USD is likely to stay within the range at $160 and $170.00. The relative strength index (RSI) has retracted from the oversold and is now horizontal at 60.00. Similarly, the moving average convergence divergence (MACD) 1-hour at +1.08 has started to slope downwards to show that the bulls are currently losing steam. In terms of support, both the 50 SMA and the 100 SMA at $165 will hold in the short-term. The range support at $160 and the $155 are positioned to prevent declines in the event of extended declines.

ETH/USD 1-hour

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Sellers come in ahead of 10,500

BTC/USD sells of late in the session as we draw to a close on an eventful day in the financial markets. We were expecting Fed Chair Jerome Powell to be the main event of the session but China announced plans to add tariffs to US imports. Then Powell once again stood firm against Trumps pressure to loosen monetary policy and the US President lost it on twitter. 

More Bitcoin News

XRP pushes to session highs but a key level is in sight

XRP/USD pushes to session highs. Key resistance level is in sight. 0.300 still seems the like the long term target for bulls.

More Ripple News

BCH/USD: 300 is well supported once again

Bitcoin Cash has rejected downside moves yet again. Key trendline apex needs testing soon. 360 is still the level to breach for upside momentum.

More Bitcoin Cash News

NEO announces new partnership with gumi Cryptos bringing blockchain to Japan

NEO Foundation has announced a new partnership with gum Cryptos. The two organisations will be working on bringing blockchain technology to Japan. 

More Neo News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP