- ETH bulls have a task at their disposal.
- China launched crypto index, ETH topped.
Ethereum price has a difficult time balancing itself in the days ahead as various technical parameters on various timelines suggest there are enough barriers around for the second largest crypto to be able to find its feet on the ground and it won't be anytime soon before it manages to fly beyond $800.
ETH/USD is up more than 1 percent on Sunday at $704 and around day's high of $709. A quick look at various timeline technical indicators suggests ETH has resistances at $710, $720 and then biggest of them at $780 and ETH bulls will need more than just a momentum to cross past all of these at one go.
Solace for the bulls is the fact that it has supports in the range of $650 and $680. So, the range for next few days remains to be $650 on the downside and $720 on the upside in a momentum trade and $780 maximum unless some positive development breaks it out of this range.
Among the new that matters, as reported earlier by us, Ethereum tops the index created by China that ranks cryptocurrencies based on innovation, technology. (Read here)
ETH/USD 60-minute chart:
ETH/USD 480-minute chart:
ETH/USD 360-minute chart:
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Ripple's move above this key level could trigger nearly 50% rally for XRP
Ripple has overcome a critical resistance level and flipped into a support floor on the weekly time frame. This development happened while XRP tightly consolidated for roughly 250 days. Investors can expect XRP to kickstart a massive rally.
Optimism price outlook with nearly $90 million worth of OP tokens flooding markets on Friday
Optimism volatility has shrunk in the ours leading to the network’s cliff unlock. It joins the likes of dYdX and Sui, which have similar events on their calendars. As token unlocks are often considered bearish catalysts, investors should brace for a reaction after the event.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Retail watches from the sidelines with a bias for shorts
Bitcoin could clear $73,777 peak as BTC bulls resurface. Ethereum might fall 10% before next leg up as ETH RSI teases with sell signal. XRP could lose $0.6000 threshold as Ripple bulls fail to show up.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito price action shows a potential cup and handle formation. Based on theoretical measurement rules, a successful breakout could yield a 56% rally to $6.0. A breakdown of the $3.86 support level would create a lower low for JTO and invalidate the bullish thesis.
Bitcoin: BTC may have recovered, but is it out of the woods?
Bitcoin’s (BTC) upward momentum has shown a significant decline for the past two weeks or so. This development led to a bearish signal on the weekly and an uncertain outlook on the monthly.