- Ethereum continues trading in a 4-hour uptrend that is slowing down.
- ETH/USD had a significant rejection from $248 and has not recovered yet.
The current ETH/USD uptrend on the 4-hour chart is slowing and it’s close to a bearish reversal. Bulls need to defend $239.22 support level to keep the trend going and Ethereum is trading at $242 at the time of writing, not far away from this key support level.
Either way, Ethereum is also in a daily uptrend that will not be lost even if the 4-hour uptrend is. On the daily chart, the crucial support level is set at $224.47; however, bulls can look for closer support levels using the 12-EMA and the 26-EMA.
ETH/USD 4-hour chart
If we ignore the bull move above $250 and subsequent crash to $224.47 on June 2, Ethereum is inside an ascending channel. Buyers have defended the 12-EMA several times but seem to have lost this level at the time of writing. If ETH closes below the EMA, the next support level will be the 26-EMA.
ETH/USD technical levels
|Today last price||242.18|
|Today Daily Change||-1.12|
|Today Daily Change %||-0.46|
|Today daily open||243.3|
|Previous Daily High||246.54|
|Previous Daily Low||236.15|
|Previous Weekly High||224.81|
|Previous Weekly Low||196.65|
|Previous Monthly High||247.15|
|Previous Monthly Low||176.19|
|Daily Fibonacci 38.2%||240.12|
|Daily Fibonacci 61.8%||242.57|
|Daily Pivot Point S1||237.45|
|Daily Pivot Point S2||231.6|
|Daily Pivot Point S3||227.06|
|Daily Pivot Point R1||247.85|
|Daily Pivot Point R2||252.39|
|Daily Pivot Point R3||258.24|
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