Ethereum technical analysis: ETH/USD bulls still aiming for $250-level


ETH/USD daily chart

  • ETH/USD failed at the $250-level and is currently priced at $247.65.
  • The five latest sessions have all been trending below the 20-day simple moving average (SMA 20) curve.
  • The market has found support on the upward trending line.
  • The Elliot wave oscillator has had nine bearish sessions in a row.
  • The moving average convergence/divergence (MACD) indicator shows increasing bearish momentum.

ETH/USD 4-hour chart

  • The 4-hour market is trending below the green Ichimoku cloud.
  • The upcoming market sentiment, according to the Ichimoku indicator, is bearish.
  • The $250 level has provided strong resistance to the 4-hour market.
  • The relative strength index (RSI) is trending at 47.6.
  • The MACD indicator shows that the signal line was about to converge with the MACD line and then it diverged away. This means that bullish momentum was decreasing before it suddenly went up again.
  • The Elliot oscillator has had 13 bullish sessions out of the last 14.

ETH/USD hourly chart

  • The hourly ETH/USD price had two instances where it went outside its Bollinger band (once below and once above). In both cases, the price corrected almost immediately.
  • The SMA 50 has crossed over the SMA 20 curve, which is a bearish sign.
  • The 4-hour market is also trending below the SMA 200 curve.
  • The Bollinger band is widening, showing that the market volatility is increasing.
  • The RSI indicator is trending around 60.30.
  • The Elliot oscillator has had five straight bullish sessions.

Key levels

ETH/USD

Overview
Today last price 247.66
Today Daily Change -1.83
Today Daily Change % -0.73
Today daily open 249.49
 
Trends
Daily SMA20 255.77
Daily SMA50 209.87
Daily SMA100 178.16
Daily SMA200 150.56
Levels
Previous Daily High 251.39
Previous Daily Low 235.61
Previous Weekly High 288.43
Previous Weekly Low 239.36
Previous Monthly High 288.43
Previous Monthly Low 159.05
Daily Fibonacci 38.2% 245.36
Daily Fibonacci 61.8% 241.64
Daily Pivot Point S1 239.6
Daily Pivot Point S2 229.72
Daily Pivot Point S3 223.83
Daily Pivot Point R1 255.38
Daily Pivot Point R2 261.27
Daily Pivot Point R3 271.15

 


 

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bloodbath in the crypto markets as investors realize profits

The cryptocurrency market has painted red on Thursday during the European session as traders and investors have started taking profits. As discussed earlier in the day, a correction was around the corner, mainly due to the cryptocurrency fear and greed index at a record high.

More Cryptocurrencies News

Cardano Price Prediction: ADA must overcome a massive supply barrier to extend a recovery

Cardano (ADA) has climbed to the 8th position in the global cryptocurrency market rating. The coin hit $0.194, the highest level since July 2020, on November 24, before the correction started.

More Cardano News

Greed among cryptocurrency investors soars to the highest level ever recorded

The cryptocurrency market has been on a consistent and remarkable rally since the beginning of November. Most crypto assets are trading at levels not seen since 2017 and early 2018.

More Cryptocurrencies News

Bitcoin price shows four signs of a market top that may lead to a correction towards $13,000

Downside corrections are not something to be fearful of. They are an essential part of a bullish trend, and a sell-off always comes after a strong rally, just like the dusk always comes after the dawn.

More Bitcoin News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: BTC makes new yearly highs while its network activity looks worrisome

Bitcoin has lived through the best week since February 2018. The pioneer digital currency price gained over $2,000 in less than seven days. The bullish momentum allowed it to reach a new multi-year high of nearly $18,800, marking November 2020 one of the strongest bullish months ever. 

Read the weekly forecast

BTC

ETH

XRP