- ETH/USD rises for third day in a row, probes intraday high off-late.
- Tuesday’s candle suggests the buyers are tired, overbought RSI also challenges further upside.
- Two-week-old rising trend line lures the bulls, 10-day SMA restricts immediate downside.
ETH/USD rises to $1,793, up 1.20% intraday, during early Wednesday. The cryptocurrency pair refreshed an all-time high the previous day before easing from $1,824.53. In doing so, the altcoin marked the buyers’ exhaustion via daily candlestick.
Other than the candlestick formation showing a battle of the bulls and the bears, overbought RSI conditions also raise doubts on the ETH/USD upside.
As a result, intraday sellers may take risk of entry if witnessing a downside break of the nearby support, namely a 10-day SMA of $1,648.50.
However, the previous month’s top near $1,477 and the monthly low around $1,270 can test the bears afterward.
Meanwhile, an upside clearance of Tuesday’s high will direct ETH/USD buyers to an ascending resistance line from January 25, currently around $1,895.
It should, however, be noted that the quote’s sustained run-up past-$1,895, may not hesitate to confirm the market chatters favoring the $2,000 as the next price.
ETH/USD daily chart
Trend: Pullback expected
Additional important levels
|Today last price||1786.31|
|Today Daily Change||14.15|
|Today Daily Change %||0.80%|
|Today daily open||1772.16|
|Previous Daily High||1824.23|
|Previous Daily Low||1710.01|
|Previous Weekly High||1763.93|
|Previous Weekly Low||1271.31|
|Previous Monthly High||1477.3|
|Previous Monthly Low||715.22|
|Daily Fibonacci 38.2%||1780.6|
|Daily Fibonacci 61.8%||1753.64|
|Daily Pivot Point S1||1713.37|
|Daily Pivot Point S2||1654.58|
|Daily Pivot Point S3||1599.15|
|Daily Pivot Point R1||1827.59|
|Daily Pivot Point R2||1883.02|
|Daily Pivot Point R3||1941.81|
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.