- 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.
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
|Today last price||236.91|
|Today Daily Change||6.72|
|Today Daily Change %||2.92|
|Today daily open||230.19|
|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|
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