Ethereum technical analysis: ETH/USD has a bullish start to Saturday following three straight bearish days


  • ETH/USD dropped from $174.15 to $169.20 this Friday. The price has so far gone up to $169.55 this Saturday.
  • The Elliott oscillator has had a bearish session following five straight bullish sessions.

ETH/USD daily chart

fxsoriginal

Ethereum daily chart shows that the asset has had a bullish start to Saturday following three straight bearish days. ETH/USD has dropped from $174.15 to $169.20 this Friday. So far, the price has gone up to $169.55 this Saturday. The price has met resistance at the downward trending line and is below the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The Elliott oscillator has had a bearish session following five straight bullish sessions.

ETH/USD 4-hour chart

fxsoriginal

The 4-hour ETH/USD chart has dropped and touched the lower curve of the 20-day Bollinger band. The bulls then stepped in and picked the price up to prevent any further drop. The third-last session was so bearish that it took broke below the SMA 20 and SMA 50 curves. The moving average convergence/divergence (MACD) shows that market momentum was decreasing before the bears picked up steam yet again.

ETH/USD hourly chart

fxsoriginal

The hourly chart shows that the price of ETH/USD dropped from $176.50 to $168.80 within four hours. The price found strong support at $168.80 and then bounced back up to $168.85. Previously, the hourly price found resistance at the red Ichimoku cloud and dropped down. The hourly market is also trending below the SMA 20, SMA 50 and SMA 200 curves. The SMA 20 is looking to cross below the SMA 50 curve, which is a bearish sign. The relative strength index (RSI) indicator is creeping along the oversold zone.

Key Levels

ETH/USD

Overview
Today last price 168.89
Today Daily Change -0.34
Today Daily Change % -0.20
Today daily open 169.23
 
Trends
Daily SMA20 182.46
Daily SMA50 201.84
Daily SMA100 237.46
Daily SMA200 202.69
Levels
Previous Daily High 178.42
Previous Daily Low 165.17
Previous Weekly High 182.97
Previous Weekly Low 165.17
Previous Monthly High 239.56
Previous Monthly Low 163.8
Daily Fibonacci 38.2% 170.23
Daily Fibonacci 61.8% 173.36
Daily Pivot Point S1 163.46
Daily Pivot Point S2 157.69
Daily Pivot Point S3 150.21
Daily Pivot Point R1 176.71
Daily Pivot Point R2 184.19
Daily Pivot Point R3 189.96

 


 

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 & Analysis

Editors’ Picks

Bitcoin Price Analysis: A move back below 10K is not the end of the world

Bitcoin has fallen from grace in the past few sessions. The pair has found support at 9,500 and bounced around $200. The level has been used a few times on the chart to good effect. If the price does close around these levels it could be bullish as the lows of 9,467.00 have been rejected.

More Bitcoin News

TRON Price Analysis: TRX/USD found support ahead of psychological 0.0200 level

As you can see from the chart below the price has consolidated between the two red areas. The main support zone is still the 0.0200 psychological level and the resistance is at 0.02281. The volume has been pretty light as the US are off today for Presidents day.

More TRON news

ETH/USD on the verge of a deeper decline

ETH/USD hit the recent high at $288.69 on February 15 and has been in retreat ever since. At the time of writing, the coin is changing hands at $247.00 with downside bias. In the recent 24 hours ETH has lost about 7.55% of its value.

More Ethereum News

XRP/USD erased the gains of the previous rally

Ripple's XRP has been collapsing for three days in a row. The massive sell-off caused by a global correction on the cryptocurrency market wiped out all the gains of the previous week and pushed XRP/USD below $0.2700 on Sunday. 

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls brace for jump to $11,000

Bitcoin (BTC) has been growing for three weeks in a row. The first cryptocurrency hit $10,504 on Thursday - the highest level of 2020.

Read the weekly forecast

BTC

ETH

XRP