Ethereum Price Prediction: ETH/USD critical trend line of support preventing – Confluence Detector

  • Ethereum’s price on Friday in the second part of the session with modest gains of some 0.30%.
  • ETH/USD is supported to the upside by an ascending trend line, which has been in play since early February.

 

Ethereum’s price on Friday in the second half of the session is trading in the green ever so marginally by some 0.30%. ETH/USD bulls are attempting to regain full control, after taking a beating on Thursday.

ETH/USD price action is supported to the upside by an ascending trend line, which has been in play since early February. A break below this running comfort could be very punishing to say the least.

Looking via the daily confluence detector, firstly the barriers of resistance; $166.55, daily 38.2% Fibonacci, $171.72 weekly 23.6% Fibonacci. To the downside in terms of support; $164.83, daily 23.6% Fibonacci and weekly 38.2% Fibonacci, $161.38, monthly pivot point support.

 

ETH/USD daily confluence detector 

 

 

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