Ethereum Technical Analysis: ETH/USD consolidating around $254

Rajarshi Mitra Independent Analyst

ETH/USD Daily Chart

ETH/USD went up from $252.25 to $253.50 in the early hours of Tuesday morning.
The price is currently consolidating in a flag formation.
On the upside, the nearest resistance level is at $260.
The price is trending above the 200-day simple moving average (SMA 200), SMA 50, and SMA 20 curves.
The relative strength index (RSI) indicator is creeping near the overbought zone.

ETH/USD 4-Hour Chart

The narrowing of the 20-day Bollinger band shows decreasing market volatility.
The price is currently trending in an upwards channel.
The price found support on the SMA 20 curve and bounced back up.
The market is trending above the SMA 200, SMA 50, and SMA 20 curves.
The Elliot wave oscillator had a bullish session following six consecutive bearish sessions.

ETH/USD Hourly Chart

The hourly ETH/USD was trending in the red cloud of the Ichimoku indicator and then went up.
The price is currently trending upwards in a channel formation.
The hourly market has the $258.75 resistance level on the upside.
The moving average convergence divergence (MACD) indicator shows six consecutive bullish sessions.

Key Levels

ETH/USD

Overview
Today last price	253.64
Today Daily Change	1.56
Today Daily Change %	0.62
Today daily open	252.08

Trends
Daily SMA20	198.79
Daily SMA50	178.59
Daily SMA100	157.08
Daily SMA200	146.17

Levels
Previous Daily High	260.75
Previous Daily Low	239.04
Previous Weekly High	280.17
Previous Weekly Low	183.32
Previous Monthly High	187.51
Previous Monthly Low	140.14
Daily Fibonacci 38.2%	247.33
Daily Fibonacci 61.8%	252.46
Daily Pivot Point S1	240.49
Daily Pivot Point S2	228.91
Daily Pivot Point S3	218.78
Daily Pivot Point R1	262.21
Daily Pivot Point R2	272.34
Daily Pivot Point R3	283.92

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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