Ethereum Technical Analysis: ETH/USD recovering after a massive crash to $225

After the recent rejection at $250, Ethereum bears were able to take over and bring the digital asset down to $225.
ETH/USD is recovering well trading at $236 at the time of writing.

Lorenzo Stroe Independent Analyst

What initially seemed like a mild rejection turned out to be a significant one. Ethereum plummeted to $225 in less than eight hours and was close to breaking below $224.47 support, formed on June 2 after the rejection from $253.47.

ETH/USD 4-hour chart

Ethereum has clearly lost the 4-hour 12-EMA and the 26-EMA which have crossed bearishly. The 12-EMA at $238.27 is now acting as a resistance level and will be the first thing to beat for the bulls. Besides the EMAs, there isn’t really a lot of resistance points towards $250 and this is certainly not the first attempt by the bears to take over.

ETH/USD 1-hour chart

The hourly chart is in an uptrend at the time of writing and ETH is above the 12-EMA and the 26-EMA. Both EMAs are looking for a bull cross in the next six hours if bulls can keep up the pace.

ETH/USD technical levels

ETH/USD

Overview
Today last price	236.91
Today Daily Change	6.72
Today Daily Change %	2.92
Today daily open	230.19

Trends
Daily SMA20	230.3
Daily SMA50	213.65
Daily SMA100	185.5
Daily SMA200	180.81

Levels
Previous Daily High	250.38
Previous Daily Low	225.52
Previous Weekly High	253.48
Previous Weekly Low	224.48
Previous Monthly High	247.15
Previous Monthly Low	176.19
Daily Fibonacci 38.2%	235.02
Daily Fibonacci 61.8%	240.88
Daily Pivot Point S1	220.34
Daily Pivot Point S2	210.5
Daily Pivot Point S3	195.48
Daily Pivot Point R1	245.21
Daily Pivot Point R2	260.23
Daily Pivot Point R3	270.07

Author

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.

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Ethereum Technical Analysis: ETH/USD recovering after a massive crash to $225