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Ethereum technical analysis: ETH/USD critical ascending trend line retest

  • Ethereum price is trading in the red, down over 2.5% the second part of the session on Tuesday.
  • ETH/USD bears are testing a critical ascending trend line of support.
  • The price is remains stuck within a bearish trend, following a strong May-June.
Ethereum technical analysis: ETH/USD critical ascending trend line retest
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  211.50

Relative change:      -2.60%

High:                         217.29

Low:                          208.47

ETH/USD

Overview
Today last price211.13
Today Daily Change-6.10
Today Daily Change %-2.81
Today daily open217.23
 
Trends
Daily SMA20258.63
Daily SMA50268.94
Daily SMA100236.17
Daily SMA200185.53
Levels
Previous Daily High228.14
Previous Daily Low211.69
Previous Weekly High269.47
Previous Weekly Low190.64
Previous Monthly High363.54
Previous Monthly Low226.48
Daily Fibonacci 38.2%217.97
Daily Fibonacci 61.8%221.85
Daily Pivot Point S1209.9
Daily Pivot Point S2202.57
Daily Pivot Point S3193.45
Daily Pivot Point R1226.35
Daily Pivot Point R2235.47
Daily Pivot Point R3242.8

ETH/USD 60-minute chart

  • Since the bears forced a critical near-term ascending trend line breakout via the 60-minute, ETH/USD has been sucked within a descending channel to the south.

ETH/USD daily chart

  • Big trend line test is being seen by the bears, a breach could invite another strong wave of selling.

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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