TRENDING:

GBP/USD

XAU/USD

Ethereum Price Analysis: Looking into the ETH/USD and ETH/BTC daily charts as bearish correction begins

ETH/USD had flown up from $152.85 to $172.58 this Thursday.
ETH/BTC lost momentum at the 0.0243 resistance level.

Rajarshi Mitra Independent Analyst

ETH/USD daily chart

ETH/USD faced a bearish start to the day following an overtly bullish Thursday. The price has gone down slightly from $172.58 to $171.69 and is currently facing resistance at the downward trending line and the SMA 200 curve. This Thursday, ETH/USD broke past the SMA 50 during its ascent from $152.85 to $172.58. The Elliott Oscillator has had two green sessions following two straight red sessions.

ETH/BTC daily chart

ETH/BTC bounced off the red Ichimoku cloud and went up from 0.023 to 0.0243 this Thursday, breaking above the pennant structure, in the process. This breakout was an early indicator of the crypto market’s overall bullish movement this Thursday. Currently, tt looks like the bulls have run out of steam near the 0.0243 level as ETH/BTC has dropped a bit to 0.0242. The RSI indicator is trending horizontally around 67.27, next to the overbought zone.

Key levels

ETH/USD

Overview
Today last price	170.69
Today Daily Change	-1.88
Today Daily Change %	-1.09
Today daily open	172.57

Trends
Daily SMA20	151.18
Daily SMA50	162.99
Daily SMA100	183.06
Daily SMA200	172.2

Levels
Previous Daily High	174.94
Previous Daily Low	148.3
Previous Weekly High	176.48
Previous Weekly Low	140.8
Previous Monthly High	252.76
Previous Monthly Low	89.65
Daily Fibonacci 38.2%	164.76
Daily Fibonacci 61.8%	158.48
Daily Pivot Point S1	155.6
Daily Pivot Point S2	138.64
Daily Pivot Point S3	128.97
Daily Pivot Point R1	182.23
Daily Pivot Point R2	191.9
Daily Pivot Point R3	208.86

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.