Ethereum Price Analysis: ETH/USD targets new 2020 highs towards $360


  • Ethereum conquers the resistance at $220 but settles under $230 in a bullish action-filled weekend session.
  • Ethereum is likely to take a breather under $230 but above support at $220 in wait for the next leg above $240.

Spot rate: $225

Relative change: -3

Percentage change: 1.36%

Trend: Bearish bias (short term)

Volatility: Expanding

ETH/USD daily chart

After rising and settling above the 200-day SMA, Ethereum is facing acute resistance at $230. If the resistance is cleared, the action could turn the market strongly bullish and open the road for gains towards $360.

Ethereum is likely to hold on to the support at $225 and $220 until the course is clear for another attack on $230 and $240. Trend signals from indicators such as the RSI, volume and momentum indicators could help foretell the future price action.

ETH/USD 1-hour chart

Short term analysis has a bearish bias based on the RSI’s downward dip below the average (50).

As long as the 100 SMA support holds the ground, the potential for upward will continue to grow.

ETH/USD

Overview
Today last price 226.07
Today Daily Change -2.53
Today Daily Change % -1.11
Today daily open 228.6
 
Trends
Daily SMA20 185.74
Daily SMA50 159.61
Daily SMA100 159.98
Daily SMA200 175.6
 
Levels
Previous Daily High 230.59
Previous Daily Low 222.99
Previous Weekly High 224.35
Previous Weekly Low 179.06
Previous Monthly High 186.73
Previous Monthly Low 125.81
Daily Fibonacci 38.2% 227.69
Daily Fibonacci 61.8% 225.89
Daily Pivot Point S1 224.2
Daily Pivot Point S2 219.8
Daily Pivot Point S3 216.6
Daily Pivot Point R1 231.8
Daily Pivot Point R2 234.99
Daily Pivot Point R3 239.4

 

 

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