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Ethereum technical analysis: ETH/USD heading for another retest of supporting daily trend line

  • Ethereum price is trading in the red on Friday down some 3% in the second part of the day. 
  • ETH/USD a long running ascending trend line can be supporting the price for now via the daily view. 
  • Near-term price rallies appear vulnerable to downside, given bulls capped by supply at $230.
Ethereum technical analysis: ETH/USD heading for another retest of supporting daily trend line
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  218.22

Relative change:      -3.15%

High:                         226.52

Low:                          213.24

ETH/USD

Overview
Today last price217.69
Today Daily Change-8.40
Today Daily Change %-3.72
Today daily open226.09
 
Trends
Daily SMA20273.68
Daily SMA50272.21
Daily SMA100234.08
Daily SMA200183.83
Levels
Previous Daily High229.67
Previous Daily Low206.08
Previous Weekly High318.46
Previous Weekly Low262
Previous Monthly High363.54
Previous Monthly Low226.48
Daily Fibonacci 38.2%220.66
Daily Fibonacci 61.8%215.09
Daily Pivot Point S1211.56
Daily Pivot Point S2197.02
Daily Pivot Point S3187.96
Daily Pivot Point R1235.15
Daily Pivot Point R2244.21
Daily Pivot Point R3258.74


 

ETH/USD 60-minute chart

  • Near-term bearish flag structure subject to a potential breakout south, via the 60-minute. 

ETH/USD daily chart

  • Critical trend line of support has been in play since March, with the price subject to retesting this.

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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