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

Share: Cryptos feed

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram