Ethereum technical analysis: $ 214 is the level to beat for the ETH bulls


  • ETH/USD wavers in familiar range, with a breakout eagerly awaited.
  • Daily sticks point to a potential recovery, but 214 levels to limit the upside.

The second most favorite cryptocurrency keeps its overnight consolidative mode intact so far this Sunday, reversing a brief dip to daily lows reached at 206.80 after Bitcoin and major altcoins witnessed some aggressive selling pressure. Despite the latest bounce, the No. 2 digital currency loses -0.60% in the last 24 hours, standing at a market capitalization of $ 22.51 billion.

ETH/USD, 1-hour chart

 

  • The recovery to gain traction only on an hourly close above the 214-stiff resistance.
  • Hourly Relative Strength Index (RSI) bounced-off the 50 level and turned higher.
  • The bearish trend could resume on a sustained break below the 200 mark.

 

ETH/USD daily chart

 

  • Trapped in a 3-week long rising channel, awaits fresh breakout.
  • 100 & 200-Day Simple Moving Average (DMA) hold the recent trading range.
  • 242-245 levels are the levels to beat for the bulls.
  • The downside looks more compelling, as the rising channel’s natural tendency favor bears.

 

ETH/USD levels to watch

ETH/USD

Overview
Today last price 209.9
Today Daily Change 3.62
Today Daily Change % 1.75
Today daily open 206.28
 
Trends
Daily SMA20 217.23
Daily SMA50 253.48
Daily SMA100 246.09
Daily SMA200 193.26
Levels
Previous Daily High 214.63
Previous Daily Low 200.8
Previous Weekly High 239.56
Previous Weekly Low 206.63
Previous Monthly High 318.46
Previous Monthly Low 190.64
Daily Fibonacci 38.2% 206.08
Daily Fibonacci 61.8% 209.35
Daily Pivot Point S1 199.84
Daily Pivot Point S2 193.4
Daily Pivot Point S3 186
Daily Pivot Point R1 213.68
Daily Pivot Point R2 221.07
Daily Pivot Point R3 227.51

 

 

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