• ETH/USD snaps three-day losing streak following its bounce off $1,725.
  • Successful U-turn from 10-day SMA, rising channel formation test the immediate bearish signals.
  • Channel’s resistance line adds to the upside filters, MACD flashes warning to the buyers.

Ethereum is preparing for a bullish breakout while taking the bids near $1,795 amid the initial Tuesday. In doing so, the altcoin rises for the first time in the last four days while attacking the latest lower-high formation on the daily (D1) chart.

Although MACD flashes a bearish signal for the first time in two weeks, the quote’s ability to stay beyond 10-day SMA, also remaining strong inside an ascending trend channel from January 19, favors the ETH/USD bulls.

Hence, an upside break of the nearby resistance line, currently around $1,820, becomes imminent, which in turn will direct the buyers towards the record top marked during the month around $1,878.

It should, however, be noted that the ETH/USD upside past-$1,878 will be probed by the upper line of the stated channel, near $1,940, before directing the rally to the $2,000 threshold.

On the contrary, a downside break of a 10-day SMA level of $1,771 will be tamed by a confluence of 21-day SMA and the lower line of the aforementioned channel, at $1,614 now.

In a case where ETH/USD bears dominate past-$1,614, the $1,600 round-figure will offer an extra filter to the south before confirming the drop towards the monthly low of $1,271.

ETH/USD daily chart

Trend: Bullish

Additional important levels

Today last price 1794.31
Today Daily Change 14.69
Today Daily Change % 0.83%
Today daily open 1779.62
Daily SMA20 1606.04
Daily SMA50 1313.8
Daily SMA100 937.77
Daily SMA200 660.84
Previous Daily High 1836
Previous Daily Low 1659.93
Previous Weekly High 1868.9
Previous Weekly Low 1493.28
Previous Monthly High 1477.3
Previous Monthly Low 715.22
Daily Fibonacci 38.2% 1727.19
Daily Fibonacci 61.8% 1768.74
Daily Pivot Point S1 1681.03
Daily Pivot Point S2 1582.45
Daily Pivot Point S3 1504.96
Daily Pivot Point R1 1857.1
Daily Pivot Point R2 1934.59
Daily Pivot Point R3 2033.17



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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content

Recommended Content

Editors’ Picks

This subtle cue suggests Shiba Inu price will see a tumble

This subtle cue suggests Shiba Inu price will see a tumble

Shiba Inu price is presenting quite the tug of war battle during the second trading week of August. Previous outlooks have prophesied on both bearish and bullish sides of the coin, and as of yet, no target has been successfully breached. 

More Shiba Inu news

XRP price shows a massive influx of active wallets, should Investors be concerned?

XRP price shows a massive influx of active wallets, should Investors be concerned?

Ripple’s active addresses have increased by nearly 6x on multiple sets of occasions throughout the summer. Ripple price hovers just above a breached consolidative barrier, which is enticing traders to open a long positions.

More Ripple news

Top 3 Price Prediction: Whales at the shore play tag

Top 3 Price Prediction: Whales at the shore play tag

Bitcoin price continues to validate previous technical analysis outlooks issued throughout the month of July. BTC price trades at $24,182 as the intraday traders take advantage of the profit-taking consolidation near the $24,600 level.

More Bitcoin news

Will the Ethereum price finally flip Bitcoin?

Will the Ethereum price finally flip Bitcoin?

Ethereum price continues to outperform Bitcoin. Higher targets remain possible but investors should be aware of a potential liquidation. Ethereum price currently auctions at $1,896 as day traders have begun taking profit above the psychological $1,900 level.

More Ethereum news

Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin price shows an interesting setup that could reveal its next move. On closer inspection,  its technicals support a bearish outlook for the leading crypto.  

Read full analysis