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Ethereum Technical Analysis: ETH/USD jumps 18% in the latter stages of Friday

Ethereum price jumps 18%, reversing the big drop seen in afternoon trading.
ETH/USD managed to push back into positive territory, after being heavily oversold.
The big jump seen does not appear to be stable with the price edging lower again to test the session low.

Ken Chigbo Independent Analyst

ETH/USD 1-hour chart

Spot rate: 93.29

Relative change: +0.22%

High: 97.58

Low: 82.15

Trend: Bearish

Support 1: 85.82, vital near-term bottom area.

Support 2: 81.02, daily pivot point support.

Support 3: 71.92, daily pivot point support.

Resistance 1: 99.73, 60-minute resistance.

Resistance 2: 108.84, daily pivot point resistance.

Resistance 3: 113.64, daily pivot point resistance.

Author

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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