Ethereum technical analysis: ETH/USD bulls must break above critical barrier for further upside pressure

  • Ethereum price on Monday is holding strong gains of over 5% in the latter part of the session. 
  • ETH/USD bulls are retesting breached critical ascending trend line of support. 
  • A break above the noted new acting resistance could provide a fresh strong wave of buying pressure.  

 

Spot rate:                 243.35

Relative change:      +%

High:                        246.72

Low:                         227.58

 

ETH/USD 60-minute chart

  • Near-term price acting breaks above a 60-minute descending trend line of support, giving room for a move back into $250. 

ETH/USD daily chart

  • Price action via the daily chart view remains below the breached supporting trend line seen last week. The bulls must break back above for further upside pressure. 

BEST BROKERS TO TRADE CRYPTO

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.