- Ethereum stays depressed near 17-day low, keeps 50-day SMA breakdown.
- Bearish MACD, sustained break of the key SMA direct sellers towards the yearly support line.
- Buyers and sellers both have multiple barriers but trips for bears seem less bumpy ahead of immediate support line.
ETH/USD remains on the back foot around $1,670 during late Tuesday’s trading. In doing so, the altcoin keeps the downside break of 50-day SMA, amid bearish MACD, near the lowest levels last seen on March 07.
Given the clear break of the short-term key Simple Moving Average (SMA), coupled with downbeat MACD, Ethereum sellers look set to attack an upward sloping trend line from December 23, 2020, currently around $1,550.
However, any further downside will be questioned by an ascending support line from January 11 and 100-day SMA, respectively near $1,480 and $1,365.
Meanwhile, an upside clearance of 50-day SMA, at $1,723 now, will not be able to invite ETH/USD bulls as a 12-day-old resistance line and a falling hurdle, established since February 20, close to $1,835 and $1,905 in that order, will challenge the recovery moves.
If at all the Ethereum buyers cross the $1,905 resistance, the record top marked in February around $2,040 will be in the spotlight.
ETH/USD daily chart
Trend: Further downside expected
additional important levels
|Today last price||1665.56|
|Today Daily Change||-15.46|
|Today Daily Change %||-0.92%|
|Today daily open||1681.02|
|Previous Daily High||1806.39|
|Previous Daily Low||1657.17|
|Previous Weekly High||1931.97|
|Previous Weekly Low||1706.25|
|Previous Monthly High||2041.42|
|Previous Monthly Low||1271.31|
|Daily Fibonacci 38.2%||1714.17|
|Daily Fibonacci 61.8%||1749.39|
|Daily Pivot Point S1||1623.33|
|Daily Pivot Point S2||1565.64|
|Daily Pivot Point S3||1474.11|
|Daily Pivot Point R1||1772.55|
|Daily Pivot Point R2||1864.08|
|Daily Pivot Point R3||1921.77|
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