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Ethereum technical analysis: ETH/USD bulls heading for monumental supply barrier

  • Ethereum price in the session on Friday is trading with losses of some 1.30%.
  • ETH/USD bulls faced rejection within a chunky supply region $225-240 range.
  • The price has not traded above the noted zone since 13 July, proving its significance.
Ethereum technical analysis: ETH/USD bulls heading for monumental supply barrier
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 217.79

Relative change:      -1.45%

High:                         222.39

Low:                          214.77

ETH/USD

Overview
Today last price218.31
Today Daily Change-2.71
Today Daily Change %-1.23
Today daily open221.02
 
Trends
Daily SMA20184.85
Daily SMA50194.9
Daily SMA100229.39
Daily SMA200205.9
 
Levels
Previous Daily High224.69
Previous Daily Low202.2
Previous Weekly High186.12
Previous Weekly Low174.34
Previous Monthly High239.56
Previous Monthly Low163.8
Daily Fibonacci 38.2%216.1
Daily Fibonacci 61.8%210.79
Daily Pivot Point S1207.25
Daily Pivot Point S2193.48
Daily Pivot Point S3184.77
Daily Pivot Point R1229.74
Daily Pivot Point R2238.46
Daily Pivot Point R3252.23

ETH/USD daily chart

  • The bulls are heading for a big retest of a significant zone of supply $225-240 range. 

ETH/USD 60-minute chart

  • Near-term price action via the 60-minute chart view is moving within a bullish flag structure, subject to a breach.

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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