- ETH/USD picks up bids to challenge the record top.
- Sustained trading beyond 10-day SMA, whales’ accumulation favor the bulls.
- Retracement before $2,000 can’t be ruled out, formation support adds to the downside filters.
Ethereum keeps the record-breaking rally on the table while picking up the bids near $1,940 during the early Friday’s trading.
The cryptocurrency pair’s ability to extend the bounce-off 10-day SMA gains support from the accumulation of crypto whales to favor the bulls inside a bearish chart pattern formation. Also supporting the argument is an absence of bearish MACD.
However, overbought RSI and a strong resistance line established since early 2021 can trigger the quote’s pullback around $1,975 before attacking the $2,000 threshold.
Should the pullback moves break the 10-day SMA level of $1,830, the pattern’s support near $1,770 will be the key to watch as a downside break of which will confirm the extended pullback towards the monthly low of around $1,490.
Overall, ETH/USD stays on the bullish trajectory and is well set to challenge the $2,000 psychological magnet. However, key resistance and overbought RSI may offer a spot for the whales to catch a breather.
ETH/USD daily chart
additional impotant levels
|Today last price||1939.64|
|Today Daily Change||0.00|
|Today Daily Change %||0.00%|
|Today daily open||1939.64|
|Previous Daily High||1950.3|
|Previous Daily Low||1851.47|
|Previous Weekly High||1868.9|
|Previous Weekly Low||1493.28|
|Previous Monthly High||1477.3|
|Previous Monthly Low||715.22|
|Daily Fibonacci 38.2%||1912.55|
|Daily Fibonacci 61.8%||1889.22|
|Daily Pivot Point S1||1877.31|
|Daily Pivot Point S2||1814.97|
|Daily Pivot Point S3||1778.48|
|Daily Pivot Point R1||1976.14|
|Daily Pivot Point R2||2012.63|
|Daily Pivot Point R3||2074.97|
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