TRENDING:
US CPI
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Ethereum Technical Analysis: ETH/USD defends $236 and looks to continue with its daily uptrend

  • ETH/USD defended the daily 12-EMA at $236.16.
  • The uptrend is intact and bulls are looking for the next leg up.
Ethereum Technical Analysis: ETH/USD defends $236 and looks to continue with its daily uptrend
Lorenzo StroeLorenzo StroeIndependent Analyst

Ethereum had a nice bull break on July 6 and continuation two days later. It is now under some healthy consolidation waiting for the next leg up above $249 and $250. 

ETH/USD daily chart

ethusd

As mentioned above, the daily uptrend is still in play with bulls defending the 12-EMA. Even if the support level is broken, the 26-EMA at $233.38 should also act as support. The most crucial level to hold is $223.31, the low of the uptrend.

ETH/USD 4-hour chart

ethusd

Unfortunately, the 4-hour uptrend was lost but the 26-EMA is currently being defended. More support levels can be found at $235.56 and $234.62. The $230 psychological level should also be a strong support point for bulls.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
Share:

Editor's Picks

Cardano Price Forecast: Approaches critical support as correction risks grow

Cardano Price Forecast: Approaches critical support as correction risks grow

Cardano (ADA) recovers slightly, trading at $0.206 at the time of writing on Friday, inches above the critical support zone after losing more than 6% so far this week. Weakening derivatives data and fading bullish momentum suggest a bearish near-term outlook, with a decisive close below the support zone potentially triggering a deeper correction for ADA.
Crypto Overview: Bitcoin slips below $77,000 – Raydium, Falcon Finance hold gains

Crypto Overview: Bitcoin slips below $77,000 – Raydium, Falcon Finance hold gains

Bitcoin price trades below $77,000 on Friday, extending its capitulation from the previous week’s high at $82,300. Broader market consensus points to a higher likelihood that the US Federal Reserve could raise interest rates at the September meeting, as inflation concerns rise amid the war with Iran.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC pullback, ETH stalls, XRP weakens

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC pullback, ETH stalls, XRP weakens

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) remain under pressure on Friday as the broader cryptocurrency market extends its losses over 4%, 2.5% and 5%, respectively, this week.
Ethereum Price Forecast: ETH holds above $2,400 as PPI data strengthens rate hike expectations

Ethereum Price Forecast: ETH holds above $2,400 as PPI data strengthens rate hike expectations

Ethereum (ETH) is down 0.7% on Thursday as the second-largest cryptocurrency looks to recover from earlier pressure following the release of stronger US inflation data. The Producer Price Index (PPI) for final demand rose 0.4% in August, matching market expectations after a revised 0.1% increase in July, according to the US Labor Department.
Bitcoin: Gearing up for a sharp move

Bitcoin: Gearing up for a sharp move

Bitcoin (BTC) is trading around $81,000 on Friday, up over 4% so far this week, and awaits a key catalyst that could determine its next directional move. Strong institutional demand is supporting the bullish price action, with spot BTC Exchange Traded Funds (ETFs) on track to record a third straight week of inflows.