Ethereum Technical Analysis: ETH/USD penetrating vital near-term support
- Ethereum price on Tuesday holding very minor gains of 0.25%, as general caution continues.
- ETH/USD bears testing vital near-term support around $115 area, lower part of range-block.
ETH/USD 15-minute chart
- ETH/USD price via the near-term view is trading within the block formation, the next committed trend is determined on the break out from the respective barriers.
Spot rate: 116.96
Relative change: +0.25%
High: 118.26
Low: 111.73
Trend: Neutral
Support 1: 114.17, daily pivot point support.
Support 2: 111.65, daily pivot point support.
Support 3: 108.98, daily pivot point support.
Resistance 1: 119.37, daily pivot point resistance.
Resistance 2: 122.04, daily pivot point resistance.
Resistance 3: 124.57, daily pivot point resistance.
ETH/USD 60-minute chart
- Several lower wicks testing a near-term area of demand, $115-112 range.
ETH/USD daily chart
- Bears are testing key daily support eyed around the $115 price area.
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.
